Chainlink 50 % drop may come sooner than you think
Updated
Link like many other altcoins remains bearish.
For a time being the price seems to be getting rejected from the upsloping resistance line.
We still expect 50 % drop.
$3,50 - $3 can be a good area to accumulate link for the next bull market. It would be approx. 94 % drop from the all time high which sounds reasonable if we look at the altcoins % decrease in the previous bear market.
Buying at $1,50 would be a gift, but it´s not sure if the market is gonna be not so generous. Chainlink is one of the projects that we believe in as its fundamentals are strong.
For a time being the price seems to be getting rejected from the upsloping resistance line.
We still expect 50 % drop.
$3,50 - $3 can be a good area to accumulate link for the next bull market. It would be approx. 94 % drop from the all time high which sounds reasonable if we look at the altcoins % decrease in the previous bear market.
Buying at $1,50 would be a gift, but it´s not sure if the market is gonna be not so generous. Chainlink is one of the projects that we believe in as its fundamentals are strong.
Trade active
Upsloping resistance still acting as a resistance.Chainlink still may drop to $3 - $3,50.
BTC.D is favoring further drop in the altcoin market:
Note
Good progress. The price is droppingNote
Chainlink still looks very bearish.Note
So far playing out as expectedNote
The idea is still validNote
A lot of ranging . 3,50 -3 $ would be a giftNote
Chainlink may be in a bearish distribution phase. buy orders: 3-3.50$ and lower
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