After a reversal from the level of $8.7, reached two weeks ago, and a move back to $7.0 support, LINK started a new cycle, all over again. Previous week was a relatively calm one, where the coin was moving in a short range, between levels of $7.0 up to $7.3. Highest and lowest levels during the week were $6.8 and $7.5. Still, during the previous week, investors were more preoccupied with developments over First Republic Bank, so altcoins were out of scope. In this sense, LINK could not perform better than it actually did during the week.
RSI continues to move below the level of 50, indicating that the market is still more oriented toward the oversold side. At the same time, MA50 started to modestly diverge from MA200, but still, it is still unclear whether there is any kind of potential cross in the coming period.
Second week in a row LINK will start by testing the $7.0 support line. There is currently an equal number of buying and selling orders, which implies on potential that $7.0 might hold. At the same time, charts are also pointing that $7.5 short term resistance might be tested in the week ahead.
RSI continues to move below the level of 50, indicating that the market is still more oriented toward the oversold side. At the same time, MA50 started to modestly diverge from MA200, but still, it is still unclear whether there is any kind of potential cross in the coming period.
Second week in a row LINK will start by testing the $7.0 support line. There is currently an equal number of buying and selling orders, which implies on potential that $7.0 might hold. At the same time, charts are also pointing that $7.5 short term resistance might be tested in the week ahead.
