Markets were slowing down during the previous two weeks, and LINK was just following the flow. Previous week LINK started around $6.7 and gradually increased the price until $7.6, where was the point of weekly short reversal. LINK is ending the week around $7.5 support line.
RSI continues to hold above level of 50, which indicates that the market is still more oriented toward the overbought side. Moving averages of 50 and 200 days continue to move as two parallel lines, which are still supporting the Golden cross occurred a few weeks ago.
It is evident from charts that the markets are slowing down. So will the price of LINK in the coming week. There is a higher probability that the coin will test the $7.0 support line, however, there is no clear signal if the price could go below this level. On the opposite side, charts are showing potential for the $8.0 resistance line to be tested for one more time, but it is still not clear if this testing will occur in a week ahead.
RSI continues to hold above level of 50, which indicates that the market is still more oriented toward the overbought side. Moving averages of 50 and 200 days continue to move as two parallel lines, which are still supporting the Golden cross occurred a few weeks ago.
It is evident from charts that the markets are slowing down. So will the price of LINK in the coming week. There is a higher probability that the coin will test the $7.0 support line, however, there is no clear signal if the price could go below this level. On the opposite side, charts are showing potential for the $8.0 resistance line to be tested for one more time, but it is still not clear if this testing will occur in a week ahead.
