Chainlink: Is an Interim Top Beginning to Form?ChainLink / TetherUSBINANCE:LINKUSDTDukesMarketAnalysisPrimary Trend Remains Bearish Chainlink continues to respect its primary weekly downtrend, with the broader structure still producing lower highs and lower lows. Despite the recent recovery from $7.88, sellers remain in control of the bigger picture. Recovery Faces Resistance The latest rally has stalled beneath the $8.53 swing high, leaving another potential lower high in place. Until this level is reclaimed, the recent bounce remains vulnerable to renewed selling pressure. Momentum Remains Weak The 100/50-Period EMAs have crossed bearishly, while bearish RSI divergence into the recent highs suggests upside momentum has continued to weaken. Together, these indicators continue to favour the bears. What Bulls Need to Do A decisive break and close above $8.53 would invalidate the latest lower high and weaken the current bearish structure. Until then, the recent low at $7.88 remains an important level to watch should sellers regain control. In Summary Chainlink has recovered from its recent low, but the broader technical picture remains cautious. Price continues to trade beneath a key lower high, while the bearishly crossed 100/50-Period EMAs and bearish RSI divergence suggest momentum still favours the downside. A move above $8.53 would improve the outlook, but until then, the primary weekly downtrend remains the dominant theme.