Since the price of Link went from 7$ to 19$ in a rapid ascension, the price has maintained resistant levels around $16 and support levels of $13. Different than the prior bull run of 2017, the current market allows for future trading which can more accurately short the price of the underlying asset.
The question now is, What is the true fundamental value of Chainlink?
Bitcoin - has first mover advantage, an industry pioneer which should maintain its #1 position in market share, unless an underlying shift changes in the market.
Ethereum - is the cryptocurrency which ChainLink is built upon, and provides more functionality as a cryptocurrency than #Bitcoin. Historically it has been a second to Bitcoin and a change in this position would mean an advancement in the market pricing in utility vs. marketability.
A recent Forbes article which discussed ChainLink's value stated it as overvalued, and discussed how social media marketing accelerated its popularity. Correlated to that article ChainLink's growth was stunted.
The next few months should help clarify the true market share value of ChainLink - as its rise has been swift and it has been the leader that has re-stimulated demand for the Crypto market.
Each time it experienced a rise in price, the prices of Bitcoin and Ethereum followed.