You are currently viewing Chainlink (LINK) Under Bearish Strain As Selling Pressure Mounts

The bullish momentum in Chainlink (LINK), which spiked the asset to $6.75 on May 18, 2023,  ended on May 19. From May 19 till date, LINK recorded a bearish pressure as the price gradually decreased each day till May 24, when it closed at $6.33. 

Currently, on May 25, 2023, Chainlink’s price stands at $6.30 on CoinMarketCap, indicating a further decline over the past 24 hours.

LINK Bears Dominate Market With Strong Momentum

LINK is a prominent cryptocurrency that bridges the gap between smart contracts and real-world data. The native token of Chainlink, LINK, has exhibited negative performance within the last day’s trading session. Notably, the asset has been on a downtrend in the last seven days resulting in a loss of 6.25%.

These losses suggest sellers pressure buyers beyond their capacity to hold the price, leading to downward pressure on LINK’s price. Investor’s market confidence was reduced, resulting in a

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