Analyst: Chainlink and Bitcoin Could See Corrections Despite Strong Momentum

Crypto analyst Ali Martinez says Chainlink's MVRV indicator is flashing a bearish signal and could indicate a correction is coming.

However, Martinez believes Chainlink will still hit new highs after a brief pullback.

Martinez examined Bitcoin's RSI indicator on the 4-hour chart, noting it is in overbought territory over 74 and could point to a retracement.

Bitcoin is currently trading around $27,362.

The analyst shared his technical analysis on the social media platform X.