Chainlink price observed a massive rally in the past few days, which brought profits to a significant chunk of LINK holders. However, the altcoin seem
Chainlink price rallied to breach the $10.00 mark over the weekend, posting a 35% increase. The rise in price led to about $12.3 million worth of short positions being liquidated in three days. The MVRV ratio noted the largest spike since August 2021, reaching into the opportunity zone and suggesting an imminent correction. s to have found its top around the $10 mark, as LINK is most likely preparing for a major crash soon. Chainlink price to see downfall Chainlink price trading at $10.
-day chart But that did not stop the investors. However, that may not be the case for soon. The red candle noted at the time of writing suggests a pause is likely, which could result in a cool-down. Plus, as long as the market is overheated, price correction is highly possible. Presently, $10.00 stands as the first line of defense; losing this would bring Chainlink's price to test $9.00 as the critical support level. If the bearishness still persists, further decline cannot be ruled out.
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