Link (link) flashes bears, because it creates a pennant pattern, indicating the potential continuation of his trajectory down. After the fight for a stubborn rush, the price remains in consolidation, and sellers stick to the market. If this pattern goes, the link can be threatened with a keen drop, with key support levels before increased pressure.

The sentiment of the market seems cautious because Bulls is trying to keep the line against the growing rush. The division of this structure can speed up the losses by pushing the link to the lower price zones. However, if the buyer manages to annul the pattern, it may be in the rally.

Analysis of the price: Division of the bears of the pennants

Currently, Chainlink is still trading within the unbelievable bear, which indicates a state of indecision on the market. Neither the bulls nor bears established the company’s control, because the price remains confined within the framework of the convergent trend lines.

Usually, this consolidation phase suggests that market participants are in waiting and seeing mode, anticipating a technical or fundamental catalyst for a decisive breakthrough in both directions.

While the structure of the penny of the pennant usually signals the continuation of the previous inheritance, the hesitation of the link indicates that the bulls are still trying to defend key levels of support. Nevertheless, without a sturdy enhance in purchasing pressure, the risk of failure remains high.

If the link violates the lower limit of the pennant with a sturdy volume, the accelerated decline is likely, strengthening bear and increasing sales pressure. This division can attract the bears of the shoots, pushing the price towards key levels of support.

In addition, assets are currently trading below the 100-day straight movable average (SMA), which further strengthen the negative trend on the market. This positioning suggests that continuous attempts to recover the rush Link may encounter significant resistance.

Potential division goals: How low can the link be?

The creation of a pennant in the price of a chain brings the possibility of further decline, and the measured goal of traffic and key support levels provide a road map of potential price traffic.

If the bears took control and the failure is below the lower trend line, the trend down the link can accelerate, exceeding the price below the critical support level of USD 17.96. This decrease in sight is a deeper decline towards the 15 USD mark, in which buyers can try to recover the momentum and prevent additional losses.

However, if Bullom manages to defend these key levels and initiate a sturdy reflection, the link may annul the bear’s configuration and go to recovery, probably focused on the resistance level of $ 19.87. The decisive traffic above this threshold would confirm the stubborn rush and pave the way for more benefits.