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.
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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