Chainlink price analysis: LINK drops to $27.82 amid bearish takeover

TL;DR Breakdown Bullish momentum is gradually increasing for cryptocurrency, per the Chainlink price analysis.The loss has been great as the price has fallen to $27.82.Strong support has been detected at $25.73, today. The Chainlink price analysis is showing a vital decline in the bullish momentum, and the bears are standing high. The price has dropped to $27.82 today, while the bears are still gaining further momentum. The past hours have seen a major rise in the price, with the SMA 20 crossing SMA 50 breaking the previous records as well. Yet the latest statistics have been in the favor of the bears with the resistance level resting at $29.74. LINK/USD 1-day price chart: Bears block Bullish momentum from soaring above $28 The 1-day chart showing cryptocurrency analysis is indicating a building resistance from the side of the buyers. The past week proved highly favorable for the bulls but today, the trend has been different. The LINK/USD price value has stooped to $27.83 which has proved detrimental for Bullish progress. The volatility is decreasing for the Bullish momentum, whereas the Bollinger bands average is set at $25.86. LINK/USD 1-day price chart. Source: TradingView As the Bollinger bands have been narrowing down, the upper band has lowered to the $29.32 level and the lower band has increased to $22.4. The Relative Strength Index (RSI) score is also satisfactory for cryptocurrency as it is almost near 70 i.e. 62.34...