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Chainlink bears firmly in control, but watch out for THIS!
The rally from $10.94 to $27.87 earlier this year provided clear Fibonacci retracement levels. Those levels aligned with weekly swing zones, including $15.44, which acted as another key support.
The previous week’s session close at $13.73 meant that LINK had fallen below two key long-term supports, namely, $15.44 and $14.56. The latter was an important Fibonacci retracement level that bulls were unable to defend.
The OBV showed that selling pressure has been steady in recent months, and a bullish comeback was nowhere in sight.