Chainlink's price has been on a decline since its peak in March. Despite several market-moving events, it has struggled to maintain upward momentum. During the Bitcoin Conference week, LINK initially rose by 7%, but quickly lost those gains. Over the last 24 hours, the LINK price has dropped 3.9% and is currently trading at $12.82.
This recent price action indicates bearish pressure on Chainlink. The market seems wary and unsure about sustaining any upward trends for LINK. Nonetheless, there's speculation about whether Chainlink can make a push for $16, overcoming its current bearish sentiment.
CoinGape provides insights on this price analysis, highlighting the volatile nature of LINK's market performance.
