Chainlink (LINK) Price Could Drop by More Than 50 Percent If Parabola Breaks: Trader

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Tue, 12/24/2019 - 18:42
Alex Dovbnya
One of the most successful cryptocurrencies of 2019 could soon witness a major price correction
Cover image via U.Today

Trader Scott Melker states that Chainlink (LINK), the star of 2019, is on the verge of its do-or-die momentum as it continues to tap its parabolic curve.  

Melker predicts that the LINK price could go down by more than 50 percent if the coin's parabola eventually breaks. While such patterns can lead to unprecedented returns in a fairly short amount of time, they can also lead to painful drawdowns when things go south. 

image by @scottmelker

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Chainlink (LINK) Goes Live on Binance US. Will It Hit $3 and Surpass Tron?

ChainLink (LINK) is on the verge of dropping out of the top 20 after its price went down by more than five percent in USD value over the last 24 hours.

At press time, it is trading at $1.82 (0.00025 BTC), which represents a 54 percent drop from its 2019 high of $3.94.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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