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back to salinix crypto good morning and welcome to this video in which will cover link the main token of the chain link protocol I think we should call it um which has been very bearish ever since staking was introduced I gotta be honest that was expected but I did want to make a video because were getting towards our uh well not all-time lows but bear Market lows if you if you zoom out to the to the Daily what you can see is were heading towards thats a very strong albeit um a level at around 5.5 and 5.3 which is also the level we drop down to the 12th of May the level will drop down to the 13th of June and as you can see we havent uh oh maybe its our all-time low even I didnt know that the chain link actually started at around ten dollars I thought it started lower uh however thats um thats why I wanted to make a quick update and apart from that um I know there are a lot of Link holders around Salinas crypto and I you I recently covered it or included it or featured it whatever you want to call it in a different video uh but thats lets get right into it so what happened is that link actually became quite bullish um ahead of staking which already started here but then obviously FTX crash happened and we actually regained some traction became quite bullish also it also reached down to that 5.5 dollar support level which we are heading towards right now as well I think but more about that later um find some bullish momentum but what usually happens with crypto is that is that sure when when a positive event when a bullish event is coming up thats bullish for a crypto but when it actually happens which for link was right here the 6th of December staking was introduced and then for the public the eighth which usually happens is that its kind of the same effect as by the rumor sell the news so the rumor or the event coming up is bullish but then when it actually happens so the event goes live which is then the news um it becomes ruler it becomes bearish so that was all expected I covered that a lot as well um but um but ever since we have been dropping quite a lot and then especially last Friday or ever since Wednesday when we had that um and Im going to talk a little bit about fundamentals I think its important um but but Wednesday when the monetary policy of the Federal Reserve didnt change we reacted to that very heavily and we actually didnt stop falling until the weekend which most cryptos fell during that time but not this much um so yeah weve we fell a lot we broke through all types of support level so now were back at the same levels we were at after the FTX crash and were still not finding a lot of bullish momentum you can see that right now were really struggling with six dollars which its only six dollars all right and and we we were able to Yesterday When The Home Market had some more bullish momentum so this was when for example Bitcoin went up to 17 000. link was able to get up to 6.1 but we rejected very heavily off of that blue line which is only the 28 EMA um so just a lot of bearish momentum and um there is actually some more bullish like bullish the economic fundamentals around the markets are actually quite bullish but right now given the technicals and and given the market which is well still essentially far from British even though there are some bullish aspects um it seems more likely that that were going to be able to hold 5.8 a little bit longer but like we we need to break above six dollars we need to break about six dollars and really confirm that and then well probably if we confirm that so if we break above six dollars and can actually hold that for like 24 hours then I think we can start some sort of some sort of a consolidation which would be great because then were at least safe but if were not able to do that within the next like two days break above six dollars because I do think were going to be able to find support at 5.8 once more right now but if were not going to be able to break above six dollars soon whats going to happen is that were going to have a bearish breakout like Breakthrough 5.8 and drop down to this level here around 5.6 and 5.5 which subsequently I do think will hold but still its another bearish breakout and its another drop so its uh we really have from that from the support charge at 5.8 we really have like two days to break above six dollars if we dont do that I am I I assume that were going to break down below 5.8 and drop down towards 5.6 or 5.5 find support there and from there well see you again Ill be back with another update of course but still but thats my take on link for now if you do have any questions as always let me know but for now take care and bye LINK TOKEN PRICE PREDICTION 2022 Discord Server: Patreon: Telegram: Coming soon! 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This video is for informational and educational purposes only and does not provide advice in any type of way.