Chainlink Pushes Above $7, Will The Short-Term Recovery Hold?

The price of Chainlink had been in a period of consolidation over the past few sessions. However, the bulls were recently able to break above an important resistance level. Despite this recent bullish action, the daily chart showed a 6% depreciation and on the weekly chart, LINK had a 9% loss.
The technical outlook looked bleak with fading demand and low accumulation. Nevertheless, if LINK can remain above the $7 mark, another rebound may be possible. As Bitcoin displayed mild bullish sentiment