Analysts Expect Chainlink (LINK) Reversal After 50% Eruption to $14

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Chainlink (LINK) has erupted higher in the past week, recently crossing above $14 for the first time ever. The asset trades at $14.40 as of this article’s writing, which means that it is up by approximately 20% in the past 24 hours. The asset’s outperformance comes as Bitcoin, Ethereum, and other major crypto-assets have stalled at local highs. LINK is prepared to drop from here, say some analysts as certain technicals suggest the bull trend is weakening. Chainlink Could See a Bearish Reversal, Analysts Say Hands down, Chainlink (LINK) has been one of the best performing cryptocurrencies over the past week. After dropping as low as ~$8 into the end of July, the asset has since popped to $14.40 as of this article’s writing. Analysts, though, are starting to expect a retracement as the cryptocurrency has seemingly entered overbought levels. One trader shared the chart below on August 9th, writing…

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