Chainlink Price Set to Break 3-Month Downtrend: How High Can LINK Go?

Chainlink price is on an uptrend as it has gained over 25% in the last seven days, outperforming the top 20 cryptocurrencies. The short-term outlook for LINK price is a 7% retracement to crucial support where either a bounce could happen, or a break lower could invalidate the current bullish thesis. LINK is down 6.1% for the day, which aligns with the general market downturn that sank the total crypto market cap by 2.6%, per CoinGecko data.