LINK: half road till $8.0

LINK is gradually and steadily moving to higher grounds. Two weeks ago a major panic on the banking market rocketed the prices of the crypto coins to higher grounds, however, LINK was the one to hold steady with an uptrend, making its growth in price more sustainable. LINK started the previous week by testing the $7.0 resistance line, and gradually, over the week reached the highest level at $7.66. Still, at the end of the week, some testing of the $7.0 support line is in progress.

The RSI indicator continues to move above level of 50, indicating that the market participants are still more oriented toward the overbought side, which might support the price of LINK in the coming week. Moving averages of 50 and 200 days, are still moving as two parallel lines, meaning that the occurred Golden cross is still on hold.

Markets continue to be fragile on all the news surrounding the banking industry lately, so there is some probability that volatility on the market will continue in the weeks to come. Considering that fundamentals are now playing an important role in defining the prices of coins, some precaution is advisable. As per current charts, LINK will start the week ahead by testing the $7.0 support line. There is decreased probability that this line could be breached to the downside. Current charts are more oriented toward the upside, in which sense, LINK might revert from the $7.0 support line and return to its road toward the $8.0 resistance line.


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