It was a relatively modest week for LINK. There was a general negative market sentiment on the crypto market, so LINK could not make any sort of general moves, instead, the coin was slowly moving between levels of $7.2 and $6.7. There has been an interesting development on Thursday, when the price suddenly moved till level of $7.8, which has been followed with significantly increased trading volumes. However, the price swiftly reverted to previous levels. Although there is no further information on this transaction, it still to some extent shows that LINK has a strong potential.
The RSI indicator moved to the down side, but it is still holding modestly above the level of 50. It shows that the market is still not ready to head toward the oversold side. Moving averages of 50 and 200 days continue their dance as two parallel lines, which lasts from December 2021, still not providing any glimpse that the long awaited cross might occur any time soon.
Current charts are pointing that LINK might continue with its slow motion moves also in the coming period. Certainly, the resistance line at $7.0 is currently tested and is going to be tested during the following days. On the opposite side, $6.7 might be a short term stop for one more time, with decreased probability for $6.5 support.
The RSI indicator moved to the down side, but it is still holding modestly above the level of 50. It shows that the market is still not ready to head toward the oversold side. Moving averages of 50 and 200 days continue their dance as two parallel lines, which lasts from December 2021, still not providing any glimpse that the long awaited cross might occur any time soon.
Current charts are pointing that LINK might continue with its slow motion moves also in the coming period. Certainly, the resistance line at $7.0 is currently tested and is going to be tested during the following days. On the opposite side, $6.7 might be a short term stop for one more time, with decreased probability for $6.5 support.
