LINK Price Prediction: Bears Own the Chart Until LINK Reclaims $7.90
The post LINK Price Prediction: Bears Own the Chart Until LINK Reclaims $7.90 appeared on BitcoinEthereumNews.com. James Ding Jul 08, 2026 08:36 Chainlink is bleeding with a 4% daily drop, sitting at $7.59 below every major moving average with momentum fully exhausted — the $7.43 support is the last line before a flush toward $7.28, but a c… The Immediate Setup Four percent down in a single session, and LINK closed within a penny of its daily low at $7.58. That’s not consolidation — that’s distribution. At $7.59, Chainlink is trading below every meaningful moving average on the board: below the 7-day SMA at $7.90, the 20-day at $7.65, the 50-day at $8.19, and deeply underwater against the 200-day SMA parked at $9.65. The short-term EMAs aren’t offering any comfort either — the 12 at $7.75 and the 26 at $7.83 have both flipped from support to overhead resistance, capping any intraday bounce before it can even get started. Momentum has gone flat in the worst possible wa