LINK has bottomed, has the time to buy come?

! Over the past three weeks, LINK price has been under constant downward pressure, causing many traders to withdraw from the market. However, signals from market sentiment and historical technical patterns suggest that the coin may be approaching a recovery.

In the case of Chainlink and Quant (QNT), as more and more people believe the situation is worsening, those who buy now can recoup a few percent of the profits.

LINK price is at rock bottom – opportunity for venture capitalists?

Along with Quant (QNT), Chainlink (LINK) is in a state of widespread pessimism. But it is at a time when the overall sentiment of the market is negative, those who take the opportunity to buy may be the beneficiaries if the price reverses.

Over the past three weeks, LINK has continuously fallen in price, leading to widespread negative sentiment in the investment community. Chainlink's (social sentiment) social sentiment index — according to data from Santiment — hit its lowest level since the start of the year. History shows that such periods are often the starting point for a strong rally. The reason is that the majority of investors tend to become pessimistic at the moment the price bottoms, and when the market sentiment changes, the price reacts in reverse.

Specifically, this is only the third or fourth time in the year that investor sentiment has become extremely negative for LINK – a noticeable signal for investors who rely on crowd behavior analysis.

! Source: Santiment/XThe sentiment with QNT is not much better. When multiple assets are besieged by (sợ fear, uncertainty, ngờ) FUD, the trend against crowd sentiment often occurs — and that could be the catalyst for a rally for both Chainlink and Quant.

LINK Price Forecast: Chances of an upcoming reversal?

At the time of writing, LINK is currently trading around the $12.14 mark, down 3.4% over the past 24 hours – a key price range in the current context. Based on recent charting patterns and market sentiment, LINK may have bottomed out after the last decline.

Observing the chart data for the last few months, we can clearly see the price trend of LINK: after each deep correction, the price usually recovers significantly.

Over the past few months, LINK's price action has mostly followed a downtrend, trading in a downward price channel. Currently, the price is approaching the upper border of this channel – a "traditional" signal that buying is emerging.

! 1 1-day chart LINK/USDT | Source: TradingView The Chaikin Money Flow (CMF)* indicator also recorded reduced buying pressure, but this could mean that selling pressure is also weakening. Combined with the current price action, this suggests that LINK could be poised for a spectacular reversal.

Based on past price behavior, LINK usually establishes important support zones after each bottom test. If the price sustains above the $12 support zone, LINK can build significant upward momentum.

However, to confirm the upside, LINK needs to break through the nearest resistance around the $13.5 mark. If this level is successfully broken, LINK price could continue its recovery trend and even target higher price zones in the next few weeks.

The Chaikin Money Flow (CMF) indicator is an oscillator that measures buying and selling pressure over a certain period of time.*

Disclaimer:*** The article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

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