A popular crypto strategist has issued a warning that the decentralized oracle network Chainlink (LINK) may experience a significant downward movement. Rekt Capital, a pseudonymous analyst, believes that Chainlink looks bearish after failing to break through its macro downtrend resistance. The failed breakout suggests that LINK is still range-bound, and in a worst-case scenario, Chainlink could correct all the way down to $6.13. Meanwhile, Bitcoin has lost its bullish market structure on the weekly chart, but is still managing to stay above its horizontal support at $29,245.
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Crypto Analyst Warns Chainlink Could See Significant Downside Move, Updates Outlook on Bitcoin and Dogecoin
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Title: Electronic Cash Without a Trusted Third Party
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