Chainlink has extended its weekly decline after a sell-the-news reaction to Project Pangea, a multi-billion-dollar options expiry, and persistent weakness across the crypto market pushed LINK back toward a key long-term support zone.
Summary
- Chainlink has dropped to the $7 support zone as a sell-the-news reaction and options expiry intensified selling pressure.
- A bearish channel, weak momentum indicators, and the Supertrend signal keep the risk of a move toward $6 alive.
- Analysts identify the $6.30 support area as critical, while a recovery above $7.70 could ease downside pressure.
According to crypto.news price data, Chainlink (LINK) fell from a June 22 high near…
