Over the last three weeks, Chainlink ($LINK) price has been under pressure, with its price decline sending many traders packing. However, recent market sentiment and historical chart patterns show that the token could start a recovery soon.In the case of Chainlink and Quant ($QNT), as more and more believe the worst, those who take advantage of the time to buy may be able to restore a few percentage points.For the past three weeks, Chainlink has been on a price dip. It has caused many traders to believe that the token will continue the downtrend for a while. The market sentiment has turned negative as the FUD for both Chainlink and Quant has increased.However, as with any market trend, there’s often a price movement that goes against it. That suggests LINK may bounce back soon.Recent data indicates that Chainlink has had its lowest sentiment levels for the year. According to a chart by Santiment, Chainlink’s social media sentiment has fallen to its lowest levels recently. It also shows that the price of Chainlink correlates.However, this type of sentiment usually leads to a reversal in the price in the near future. That’s because the masses become pessimistic the majority of the time[...]
Chainlink Price Looking at a Potential Bounce-back: When and How?
