Chainlink (LINK) price is trading with a bearish inclination, having lost all the ground covered during the August 29 rally that was fueled by the Gra
Layer-2 users that meet the requirements. It is a means for the network to reward the LINK community, while at the same time incentivizing participation in the network.
Data from IntoTheBlock shows that inflows into exchanges have been on a steady rise since August 26, suggesting intention to sell as investors sought to avoid the value drop.At the time of writing, Chainlink price is at $5.907 while working out the next move. Momentum indicators such as the Relative Strength Index and the Awesome Oscillator favor the downside, meaning LINK could continue south, potentially losing the $5.808 support level before dipping into the demand zone at $5.407.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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