Crypto
Chainlink Price Plunges as Bears Gain Momentum
Chainlink's price has been experiencing some volatility recently, sitting at $13.95 after shedding 2.67% in 24 hours.
The near-term picture for LINK looks bearish, with a flatlined MACD and rising open interest into a falling price.
Aggressive taker selling is dominating spot flow, and the derivatives market shows that top traders are positioned 67.8% net long, while retail is also heavily long at 64.6%.
The chart analysis suggests that LINK is sandwiched between a healthy macro trend and a deteriorating near-term setup, with momentum having gone fully neutral after the prior bullish leg.