Chainlink price analysis: Bears arrest LINK/USD rise to push it below $27

TL;DR Breakdown Bearish momentum has tried to make a comeback today.The Chainlink price analysis shows bears have lowered the coin value to $26.63. Support remains strong at $25 in the recent updates. The Chainlink price analysis is going in the bearish direction for today. The past few hours had seen a major rise in the price as the bulls were aiming to break past the resistance at $26.65. Yet, today the price has dropped again to $26.63 after the sellers have tried to reverse the trend by selling more assets. As per Chainlink price analysis, the short-term trending line is still going in the upwards direction, which is promising for cryptocurrency. LINK/USD 1-day price chart: Bullish momentum weakens further The 1-day LINK/USD price chart is showing a strong bullish momentum today, and the price has increased considerably to $27. During the past week, the price chart had been dominated by red candlesticks, as the bears were constantly causing the price to decrease. Yet, today the bulls have made a slight recovery as the price has gone even beyond the Moving Average (MA) value as well i.e. $26.1. LINK/USD 1-day price chart. Source: TradingView The volatility has increased slightly as well which can be taken as a negative hint for the future. Meanwhile, if we talk about the Bollinger’s band indicators, then the upper band is at $28.19 and the lower band is at $24.15. The Relative Strength Index (RSI) score is also on th...