Chainlink price analysis: LINK clings to $30 due to bearish hindrance

TL;DR Breakdown Chainlink price analysis shows a bearish trend.Strong resistance is present at $34.8.Strong support is present at $26.8 The Chainlink price analysis shows a decline in price today. The price of the LINK/USD pair has come down to the level of $30.6 at the time of writing, and a further decline is to be expected. Bears have been successful in reversing the bullish momentum of yesterday when the price went up from $26.8 to $30.9. Though on a limited margin, bears have obstructed the bullish momentum and restricted the price below $30.9, which may further decline if selling pressure continues from traders. But there seems enough room for improvement as well. Though overall LINK is on a gain of 11.8 percent value if we compare the price over the last 24 hours, recent activity is bearish. The same is the case of Ethereum, down at the moment but on gains over 24 hours. Bitcoin, on the other hand, is on gains in both scenarios. LINK/USD 1-day price chart: Bears to restrict bullish momentum The 1-day price chart for chainlink price analysis shows a bearish trend has taken over the bullish momentum of yesterday. During the last few days, the price movement of LINK/USD has been on an upward trend line, as green candlestick came out bigger than the red candlesticks in the said time period. The volatility is comparatively high as Bollinger bands are still far apart, showing the upper Bollinger band at the $33.8 mark and th...