Negative market sentiment continued to shape the financial markets, where the price of LINK was pushed to the downside, to the level of $6.5 at the beginning of the week. Regardless of this drop in the price, the positive news is that the price of the coin soon reverted back to the levels from the end of the previous week. It shows that the market still has positive sentiment for this coin.
RSI was moving between 44 and 55, showing that the market continues to be oriented toward the overbought side, regardless of the modest drop in the price at the beginning of the week. Moving averages are slowing with their convergence, but still they continue to move in this direction. The golden cross is still not in store, but it might be in the future.
During the last three weeks charts are pointing at the long term resistance line at $9.0 for LINK. It still continues, considering that the coin showed that there are not enough selling orders which might push the coin clearly below the $7.0 support line. At the beginning of the week ahead LINK will clearly test $8.0 next resistance, with high probability that it might head further to $9.0 long term resistance.
RSI was moving between 44 and 55, showing that the market continues to be oriented toward the overbought side, regardless of the modest drop in the price at the beginning of the week. Moving averages are slowing with their convergence, but still they continue to move in this direction. The golden cross is still not in store, but it might be in the future.
During the last three weeks charts are pointing at the long term resistance line at $9.0 for LINK. It still continues, considering that the coin showed that there are not enough selling orders which might push the coin clearly below the $7.0 support line. At the beginning of the week ahead LINK will clearly test $8.0 next resistance, with high probability that it might head further to $9.0 long term resistance.
