It was certainly another good week for LINK lately. Although markets are still generally on hold, due to potential contingencies from FTX collapse, LINK showed that investors have strong confidence about this coin. During the whole week, LINK was looking at higher grounds, ending the week by testing the $7.0 resistance line. However, the start of the week was a bit bumpy, where the starting point was at level of $5.5.
RSI reflected price developments, moving from 38 up to 54. It clearly shows that investors are eyeing the overbought side. It is positive, since it might support the price further in the coming days. Moving averages of 50 and 200 days continue to move extremely close to each other, increasing probability for potential golden cross in the coming weeks.
LINK is ending the week by testing the $7.0 resistance line, which will continue at the beginning of the week ahead. There is some probability that the coin will revert a bit to the downside in case that $7.0 is not breached, to the level of $6.5. On the opposite side, the level of next resistance at $8.0 might be the next target for LINK, still, there is lower probability that it might occur during the week ahead.
RSI reflected price developments, moving from 38 up to 54. It clearly shows that investors are eyeing the overbought side. It is positive, since it might support the price further in the coming days. Moving averages of 50 and 200 days continue to move extremely close to each other, increasing probability for potential golden cross in the coming weeks.
LINK is ending the week by testing the $7.0 resistance line, which will continue at the beginning of the week ahead. There is some probability that the coin will revert a bit to the downside in case that $7.0 is not breached, to the level of $6.5. On the opposite side, the level of next resistance at $8.0 might be the next target for LINK, still, there is lower probability that it might occur during the week ahead.
