Chainlink is facing increasing bearish pressure as its price continues to edge lower, signaling a potential move toward the further downside.Bulls may not be ready to give up just yet as market sentiment fluctuates, leaving the possibility of a bullish comeback.At the time of writing, Chainlink was trading around $10.59, marking a 0.10% decline over the past day.Technical indicators and market sentiment suggest that LINK could either experience further declines or potentially stage a recovery.