The Chainlink price after undergoing a giant downswing after facing rejection from the levels just below $10, smashed the lower support below $6 within a couple of days. Meanwhile, the LINK price rebounded finely, but woefully the upper cap was restricted at $7.92 as bears slashed the price further.
But what went wrong with the LINK price? Why it dropped drastically?
Chainlink has been manifesting its strength in the past few months with a giant move from $6 to as high as $9 with a jump of more than 40%. However, the price has slumped heavily after reaching the local highs, it faced acute sell orders as the market participants just let off their holdings, while the launch of Chainlink’s Staking is on the horizon.
License.
