The Chainlink token rally was probably a bubble.
Chailink (LINK) is now traded at $10, and since August this crypt currency has fallen by around 50%.
At the end of summer, LINK exceeded $20 on some trading floors, but at the beginning of September the coin began to bear losses. The capitalisation of altocoin fell from $1.646 billion to $1.278 billion by the end of September.
The third quarter of 2020 proved very successful for Chainlink. Bitcoin Investor review have been pumping the coin over the past few months.
The Zeus Capital team considers this rapid climb of altokoin suspicious. In their opinion, since the beginning of 2020 there has been a bubble that has deflated after the March collapse.
The pumping has then resumed and we are now on the verge of another LINK crash.
Zeus Capital’s review states that altocoin is likely to become cheaper in September. The „bubble“ will burst and at best LINK will be able to hold on to $4. There is also a more pessimistic scenario where the token may even approach zero.
Since 25 September LINK has been trading in the range of $9.4 to $11.2. Researchers believe that if support at this level does not increase in the coming days, there will be risks of falling to $4%.
Analysts recommend that LINK traders withdraw from altoin in case the coin falls below the above-mentioned critical level ($9.4).