Decision Time for Chainlink: Crypto Trader Signals Make-or-Break Scenario as LINK Nears Bearish Setup

Renowned crypto analyst Rekt Capital, addressing his 385,900 followers on the X social media platform, warns that Ethereum-based altcoin Chainlink (LINK) is perilously close to a bearish shift, emphasizing the cruciality of maintaining a key support level around $13.57 to sustain its uptrend. 

Currently trading at $13.53, LINK faces a “make-or-break moment” as it attempts to retest the red box bottom, and failure could introduce a bearish bias. Shifting focus to Bitcoin, Rekt Capital highlights potential retracement concerns of up to 40% ahead of the scheduled April halving event, a period historically marked by pre-halving rallies. Bitcoin, trading at $46,804, reflects a nearly 4% increase in the last 24 hours, prompting a keen observation of price patterns and retracement dynamics in the lead-up to the halving event.

Clever Robot News Desk 10^th January 2024