LINK’s Correction Impending as Sell Signals Surface: Expert

• Cryptocurrency expert Ali warns of potential Chainlink (LINK) downturn.
• LINK’s price could correct to $12.50, possibly dropping to $10.50.
• LINK maintains weekly gains despite recent 5% daily trading decline.

Cryptocurrency expert Ali on X has issued a cautionary note regarding a potential downturn for Chainlink . In a recent analysis, Ali highlighted that the TD Sequential indicator has triggered a sell signal across multiple timeframes for LINK, including the daily, 3-day, and weekly charts.

The analyst further stated his expectation of a short-term price adjustment for LINK to the $12.50 level. He noted that if LINK cannot sustain its value above this crucial support level, there is a potential for the cryptocurrency’s price to experience a downward correction towards $10.50, as per Ali’s analysis.

According to data from CoinMarketCap, the price of LINK has experienced a retracement, with a decline exceeding 5% in the last 24-hour trading period. As a result, LINK’s current price is $15.29.

Although LINK experienced a downturn in its daily trading performance, it maintained a positive trajectory over the week. According to CoinMarketCap statistics, the digital asset registered an increase exceeding 22% for the week. Furthermore, LINK’s monthly performance was particularly strong, with gains surpassing 100%, reaching an impressive 113%.

Technically speaking, LINK has recently surpassed the resistance level of $14.285. Nonetheless, there is a potential threat that its price could descend beneath this crucial threshold in the imminent 24 to 48 hours. If this downward trend is confirmed, we can see LINK’s price retract to $13.325 in the subsequent days.

Under a particularly pessimistic market outlook, LINK could decline beneath the $13.325 threshold, potentially reaching $11.785 soon. Nonetheless, this negative projection could be rendered obsolete if the cryptocurrency sustains a price above $14.825 over the ensuing 72-hour period. Should this occur, LINK could experience a recovery from the $14.825 mark, potentially initiating a subsequent upward movement.