Chainlink Price Analysis: LINK/USD to retrace below $28 in the next 24 hours

TL;DR Breakdown Chainlink price analysis is bearish on today’s session after retracing 2.98 percent down. Chainlink price action traded strongly bullish for the last 5-weeks  Chainlink Price Analysis: General Price Overview Chainlink price analysis is bearish on today’s session after the market retraced by up to 2.98 percent after finding rejection at $29.143. LINK/USD pair started a consolidation process early in the morning, but the bulls who seem exhausted by the rapid momentum from July’s $19 – August’s $30 might correct lower anytime soon. This is especially true if the bears keep defending the $30 price barrier.  The general cryptocurrency market has been trading with mixed results, with some coins posting few gains or losses here and there. Bitcoin and Ethereum lost 1.82 and 0.56 percent, respectively. Binance Coin shed 1.41 percent of its value while Cardano emerged as the hottest gainer of the day after breaking the $2.9 barrier.  Chainlink price movement in the last 24 hours:  LINK/USD fails to break past $30 LINK/USD pair traded within a tight range of $27.5 – $28.9, suggesting a low amount of volatility on the 24-hour chart. Daily trading volumes increased by 6.50 percent to $1,418,602,991 from yesterday. Meanwhile, the total Chainlink market capitalization dropped by 4.23 percent to a total of $12,398,450,304. LINK/USD 4-hour chart: LINK preparing to retrace back to 20-day EMA...