- LINK is currently trading at $5.94 after a 1.13% drop in price.
- The altcoin is still down by more than 9% over the last week.
- A crypto analyst believes things are bearish for LINK.
The crypto market is still harsh and hostile after the weekend, and one of the many cryptocurrencies in the red for the day is Chainlink (LINK). The crypto market tracking website CoinMarketCap indicates that LINK is currently trading at $5.94 after a 1.13% drop in price over the last 24 hours, and after reaching a low of $5.89 over the same time period.
LINK is also still down by more than 9% over the last even days. The crypto also weakened against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH), by about 0.90% and 0.49% over the last day.
LINK’s 24-hour trading volume, however, is in the green zone today and now stands at $138,575,440 after a more than 8% increase.
With its market cap of $3,019,827,920, LINK is currently the 22nd biggest crypto in terms of market cap. This places it right behind Wrapped Bitcoin (WBTC) in the 21st position and behind Monero (XMR) which is ranked 23rd.
A crypto trader and analyst took to Twitter yesterday to share his thoughts on what might be in store for LINK in the coming days. The analyst stated that “sometimes it only takes two lines to tell you if you are bearish or bullish”.
Unfortunately for LINK, the post revealed that the crypto is currently closer to the bearish zone. Only time will tell if the bulls will get involved or if they are waiting for the storm to pass.
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