The bearish trend a few days ago brought Chainlink (LINK) down to $6.735 on April 26. The bulls tried to recover and drove the price of LINK to a solid 24-hour high of $7.30, but it later fell to a 7-day low of $6.773.

Due to the current FUD and increased regulatory pressure in the United States, Bitcoin’s (BTC) price dropped below $29,000. But if the bulls build strong momentum, BTC may test $30k and climb higher, dragging the rest of the altcoin market, including LINK, with it.

As of the time of writing, the LINK market is still moving down, falling by 2.49% to $7.06. According to CoinMarketCap info, LINK’s market cap decreased by 3.11%, while its 24-hour trading volume rose by 30.83% during the downtrend. 

The increasing trading volume suggests a possible change in investors’ sentiment for LINK. It indicates that network activities are increasing despite the downturn, which might push the LINK price to a rally. 

(by Eli Dambel)