Chainlink's price has significantly decreased over the past three days, erasing many of its recent gains. Nonetheless, supporters continue to accumulate tokens in anticipation of a potential recovery.
Chainlink Price Decline
Chainlink dropped to $27, marking a 13% decline from its highest level this year. This retreat reflects losses seen among other popular cryptocurrencies such as Bitcoin and Ethereum, which also decreased in value by over 3%.
Major Investor's Position
Despite the decline, one major investor continues to purchase LINK tokens actively. According to LookOnChain, the investor withdrew 65,000 LINK tokens worth $1.8 million on December 18.
Fundamentals and Forecast
Chainlink is highly regarded for its blockchain oracle solutions utilized by major DeFi projects like AAVE, Spark, and Compound. The partnership with Swift Network is expected to bring Chainlink further advantages in the future.
The analysis indicates that despite the price decline, interest in Chainlink remains due to its fundamental value and promising partnerships. The token may find support at the $25 level, potentially stimulating future growth.
