Chainlink Price Recovery and Investor Sentiment
Chainlink (LINK) price has recently experienced a significant decline, prompting investors to take action to reclaim their losses. Investor sentiment is leaning towards holding off selling, as many are looking to recoup their losses.
Chainlink Investors Act Bullish
- Investors are focused on recovering losses, evident in recent actions
- Only 15% of active addresses are in profit, while 85% are either in losses or breaking even
- Investors are refraining from selling to make up for lost profits
Amidst this sentiment, approximately 14% of LINK holders have lost their profits, with over 50% currently in losses. This situation is likely to drive further efforts towards price recovery in the Chainlink market.
LINK Price Prediction: Breaking the Bearish Pattern
- Chainlink hit lows of $11.98, validating a descending triangle pattern
- Key resistance at $17 needs to be breached for further upside
- Current price at $14.54 requires breaking through resistances at $14.62 and $15.69
If LINK can flip these levels into support, a potential 17% increase towards $17 is on the horizon. However, failure to breach these resistances could lead to a drawdown, potentially impacting the bullish outlook for Chainlinkโs price.
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