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Chainlink was among the first cryptocurrency to set a new all-time high in 2020, but given its absence during the 2017 peak was facing different circumstances and no overhead resistance. The altcoin was nearly unaffected entirely by the bear market over the last couple of years, breaking record after record.
However, a massive bearish divergence has formed as the unstoppable cryptocurrency touches an ascending trendline for the third time. Could this be the start of the altcoin’s first extended bear phase? Or are bulls preparing a much stronger push to finally blast through the long-term trendline?
Chainlink At Risk Of First Major Corrective Phase, According To Bear Div