LINK: Is $8 the next target?
Although the previous week was a positive one for the crypto market, still the moves made could be perceived as incremental. LINK was also following that general market sentiment and managed to cross the resistance line at $7, by reaching its highest weekly level at $7,6. Next resistance line at $8 has not been tested on this occasion.
RSI was pushed from level of 45 up to 57, which indicates that the market had turned its eye toward the overbought side. Moving average of 200 days is modestly approaching toward its MA50 counterpart, but the golden cross is still far away.
Current charts are suggesting an increased probability that the $8.0 resistance line might be tested in the coming days. At this moment there is no indication that this resistance line could be breached to the upside. On the opposite side, there is some probability for the $7.0 support line to be tested for one more time in the week ahead.
RSI was pushed from level of 45 up to 57, which indicates that the market had turned its eye toward the overbought side. Moving average of 200 days is modestly approaching toward its MA50 counterpart, but the golden cross is still far away.
Current charts are suggesting an increased probability that the $8.0 resistance line might be tested in the coming days. At this moment there is no indication that this resistance line could be breached to the upside. On the opposite side, there is some probability for the $7.0 support line to be tested for one more time in the week ahead.
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