Chainlink Price Analysis: Short-Term Forecast

Chainlink (LINK) has shown resilience against the recent cryptocurrency market downturn. While many large-cap cryptocurrencies experienced sharp declines, Chainlink managed to reach new local highs and is currently trading near its upper range. 4H chart analysis reveals LINK began a downtrend in early August before recovering and establishing higher highs on subsequent days. The price spiked to a peak of $26.34 before experiencing a pullback into the $24-$25 area, where buyers are actively working to build a base.