Chainlink (LINK), is one of the hot crypto currencies of the recent weeks, it has started to experience a serious decline in for a couple of days. The altcoin went below both 50 and 100 Daily-EMA and is now heading toward 200 Daily EMA.

Chainlink: Bullish or Bearish?

Recent price movement is clearly indicating that Chainlink ($LINK) is bearish in the short term at least. we are now looking at the support around $8.7 which is local support but also where the 200 Daily-EMA is standing at the moment. On the longterm view Chainlink ($LINK) is still looking bullish as long as it holds the 200 Daily EMA.