Chainlink (LINK), one of the shining stars of recent months, has become the favorite of investors. The movement that started with a price tag of $6 triggered a rise up to $16.5. Following the recent increase in price, warnings have also started to come. One of those who made this warning is the famous analyst Ali Martinez.
Ali Martinez Expects Correction for LINK
While the crypto market charts its own course, famous analyst Ali Martinez draws attention to a correction indicated by the TD Sequential indicator for Chainlink (LINK). He emphasizes a sell signal detected on daily, 3-day, and weekly charts. According to the analyst, there is a potential pullback towards the $12.50 mark. Highlighting the importance of this critical support level, the analyst suggests that if the LINK price cannot hold above this level, there could be long-term losses towards $10.50.
Here, an important point needs to be emphasized. The TD Sequential, a famous technical indicator, highlights the correction potential in Chainlink’s price trajectory. Moreover, this situation was given as an alarm in multiple timeframes. Investors should pay attention to the levels mentioned by the analyst as market dynamics unfold in the coming days.
Critical Levels for LINK
As Ali Martinez also pointed out, the $12.50 level will be considered as an important support. Investors can evaluate this level as a make or break moment for LINK. Therefore, the ability of the cryptocurrency Chainlink to maintain its position above this critical threshold will be closely monitored. Because a slide below this level will further decrease the price.
Finally, looking at the CoinMarketCap data, we see that altcoin LINK has exhibited a downward movement in the last 24 hours. At the time of writing, the price has dropped to $15.38 with a decrease of nearly 5%. The next process will be related to whether the levels indicated by analyst Ali Martinez will be reached or not.
