Two weeks ago LINK finally managed to move from channel trading between levels of $5 and $7. Long term resistance line at $8 has been reached, but the coin did not have strength during the previous week to break this level, although it has been tested on several occasions. Weekly trading range was between $7 support and $8 resistance.
In line with spot price, RSI was moving within short range, between 52 and 61. This indicates that the market is still on the road to the overbought side, but it will take some time until it finally reaches it. Moving average halted divergence from MA200 counterpart, however, convergence has not started yet.
Current generally decreased daily trading volumes on the crypto market are not allowing for coins to move to the higher grounds. Same situation is with LINK. In this sense, it might be expected that the coin will continue to move within a range between $8 resistance and $7 support line. However, charts are now clearly pointing to the level of $9.0 resistance, still, as long as trading volumes are low, testing of this resistance line might be postponed.
In line with spot price, RSI was moving within short range, between 52 and 61. This indicates that the market is still on the road to the overbought side, but it will take some time until it finally reaches it. Moving average halted divergence from MA200 counterpart, however, convergence has not started yet.
Current generally decreased daily trading volumes on the crypto market are not allowing for coins to move to the higher grounds. Same situation is with LINK. In this sense, it might be expected that the coin will continue to move within a range between $8 resistance and $7 support line. However, charts are now clearly pointing to the level of $9.0 resistance, still, as long as trading volumes are low, testing of this resistance line might be postponed.
