Chainlink Could Soon “Nuke” Lower if It Breaks Below Critical Support

Chainlink’s price has been sinking like a stone throughout the past few days and weeks, with buyers being unable to garner any sustainable bullish momentum as the cryptocurrency faces immense inflows of selling pressure. As such, how it reacts to this level in the days and weeks ahead could provide some serious insights into its near-term outlook, with a strong bounce here providing bulls with a serious boost.

One highly respected trader recently offered a grim outlook on Chainlink, explaining that he believes the crypto is poised to see some serious near-term downside if the support level just below its current price is shattered. Trader: LINK May “Nuke” Lower if $8.50 Support Breaks While speaking about Chainlink’s near-term outlook, one respected trader noted that $8.50 is a critical historical support level that must be ardently defended by bulls.

Timeline of Chainlink, Link