LINK has continuously formed barely higher highs. I see two scenarios here:
- New pump since it finally broke the resistance: Continued uptrend
- No push further: Downtrend signal with a rounded top
We'll know soon enough whether this is the pattern or a pump to 26 happens.
LINK is extremely overbought on the daily chart. The 1D stoch RSI has been overbought at the close to 100% range for 12 days... This overbought level has only existed twice in the history of LINK. The fact that we haven't moved higher seems like a negative sign to me. That said, when LINk had these overbought levels, it historically followed a pump.
Time will tell very soon :)
- New pump since it finally broke the resistance: Continued uptrend
- No push further: Downtrend signal with a rounded top
We'll know soon enough whether this is the pattern or a pump to 26 happens.
LINK is extremely overbought on the daily chart. The 1D stoch RSI has been overbought at the close to 100% range for 12 days... This overbought level has only existed twice in the history of LINK. The fact that we haven't moved higher seems like a negative sign to me. That said, when LINk had these overbought levels, it historically followed a pump.
Time will tell very soon :)
Comment:
I forgot to mention that the 50MA has been acting as strong support... If LINK doesn't push higher, there's no more possibility for the 50MA supporting LINK, in which case a downtrend is likely.