Chainlink's price continues to struggle as it faces challenges arising from a high Network Value to Transactions (NVT) ratio and a negative Relative Strength Index (RSI).
The RSI metric, commonly used to gauge buying momentum, indicates there is a lack of buying pressure. This absence of significant buying activity is hindering any potential recovery for Chainlink.
The challenges suggest that without a shift in these key metrics, the path to recovery may remain difficult for Chainlink in the near term.
![Chainlink [LINK] Bears Eye $8 Target Amid Persistent Selling Pressure](https://loutre.blockchair.io/w4/storage/news/ctag.png){kind=small}