Link USD chart

Oct 31, 2021

The chart shows that after the rejection at the 31-32 USD levels link now retrace to the 38% fib extension level and currently is forming a spinning top candle which indicates that there is an equal fight between buyers and sellers. Since the Stochastic RSI is sitting around 40 i am inclined to believe that the price around 29,5 USD could be the local bottom since there is a VPVR peak around there; a spinning top candle is formed in the daily timeframe after a downtrend. In addition, there is the 38% fib level that could be a good support at the moment. Also depending on how the BTC moves could affect the price a bit more e.g., if BTC drops the Link will break support and continue further down to the VPVR level around 27 USD.