Chainlink's CCIP: Buy the Rumor, Sell the News
Potential summer slowdown
There's been a noticeable uptick in criticism towards Chainlink on X, with the prevailing narrative questioning the necessity of the
LINK
token. I anticipate downward pressure on
LINK
due to Bitcoin's influence, potentially exacerbated by the voices of skeptics, who will cite CCIP GA as a failure. While this may lead to a dip in sentiment and price, it could also present better opportunities for investment.
On the chart, a nice head and shoulders with declining volume, as well as resistance from the Bull Market Support Band and the previous trendline starting in early March.
There's been a noticeable uptick in criticism towards Chainlink on X, with the prevailing narrative questioning the necessity of the
LINK
token. I anticipate downward pressure on
LINK
due to Bitcoin's influence, potentially exacerbated by the voices of skeptics, who will cite CCIP GA as a failure. While this may lead to a dip in sentiment and price, it could also present better opportunities for investment. On the chart, a nice head and shoulders with declining volume, as well as resistance from the Bull Market Support Band and the previous trendline starting in early March.
Comment:
Decent downtrend right now
Decent downtrend right now
Comment:
Getting close to the neckline!
Getting close to the neckline!
Comment:
Retesting
Retesting
Piercing down unless a bear trap starts taking shape