Chainlink Price Unlikely to Fall Below $5 Amid Signs of Bearish Control Loss

Chainlink's price action on the 4-hour chart shows early signs of recovery, but resistance still caps upside. The altcoin's price recently bounced from the lower boundary near $8.0, suggesting buyers are defending support.

The technical setup looks complex, but Chainlink's price action reveals a different story. A potential breakout attempt begins, with the projected path pointing toward a retest of the $9.20 resistance zone.