was in a downtrend. Chainlink’s market structure was bearish after its recent losses. Although risky, traders can look to profit from a potential bounce in prices from the lows of a range that has been in play for a considerable amount of time.Source: LINK/USDT on TradingView
The Relative Strength Index was below neutral 50 to show bearish momentum, while the Chaikin Money Flow was below -0.05 to indicate significant capital flow out of the market. The OBV also took a sharp hit in November as LINK dropped from $9 to a swing low of $5.7. Yet, since July, the OBV has posted a series of higher lows. This was evidence of some accumulation of LINK tokens.
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