Chainlink (LINK) is rotating in the blue zone, caution is advised

Chainlink (LINK), essential for enabling smart contract oracle services, is in the spotlight today. We examine LINK’s future price expectations, supported by analysis from our Premium environment.

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Chainlink for technical analysis (LINK)

In Chainlink’s previous analysis, Crypto Insiders analysts said they expected a peak. In their recent analysis we actually seem to see this. They recently said the following in the Premium group:

“It seems like the bears are slowly gaining strength and are starting to push the price lower. We see different wave patterns coming together and ending in the blue zone. This area, which lies between the 127.2% and 161.8% Fibonacci levels, or between $19.17 and $21.06, has been hit right on target and now the expected decline appears to be underway .

At the moment, the development of the price is not yet entirely clear, but we expect a downward correction. Additionally, we are keeping an eye on a gray area below $10 on our chart as there is an imbalance there. In a bearish scenario, the price could still enter this zone.

These developments suggest that we need to be cautious and monitor the market closely. We remain vigilant of any changes and will adjust our analysis to provide our members with the most up-to-date information.”

Date of analysis: February 22nd. Link to trading view:

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