Despite the uncertainty and turbulence that has affected the price of Chainlink (LINK) and the crypto market at large, many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement.
Chainlink (LINK) has suffered more price loss, as the price dropped from a high of $45 to a weekly low of 5.5, leading to speculation of a further drop to $3.
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LINK’s price declined from a weekly region of $9.2 to a region of $5.5 due to the FTX fiasco, as the price found minor support to hold the sell-off in price to a further weekly low. The price of LINK has responded well, holding off sell-off and bouncing off from $5.5, rallying to a high of $6.8.
Weekly resistance for the price of LINK – $8.
Weekly support for the price of LINK – $5.5.