LINKUSDT Still Showing Upward Pressure
Looking at the short term timeframes, there is still upward pressure for LINKUSDT. In the 1d and 2d timeframe, the Green Line is above the White Energy, indicating upward pressure.
With the Red RSI above the 56 level in the 2d timeframe, there is a low chance of a significant drop until the White Energy crosses below the 50 level. As the White Energy is still high around the 100 level, it could take some time before the next short pull back occurs.
The price of LINK has just tested the Orange Trendline again and got rejected at 51USDT. The last time it tested this line was back in the end of February where it was also rejected.
At the same time, the LINKBTC pair has also tested the lower Orange Trendline in the Pitchfork where it was rejected as well.
Looking at both charts, 51USDT could be the short term top. There is definitely a chance for a short pullback to retest the Purple Trendline as support for LINKUSDT (currently around the low 40s).
However, looking at the 1d and 2d timeframes above where upward pressure is still present, the price could also trade within the high 40s range for a short while and have one more leg up before its next short term pullback.
With the Red RSI above the 56 level in the 2d timeframe, there is a low chance of a significant drop until the White Energy crosses below the 50 level. As the White Energy is still high around the 100 level, it could take some time before the next short pull back occurs.
The price of LINK has just tested the Orange Trendline again and got rejected at 51USDT. The last time it tested this line was back in the end of February where it was also rejected.
At the same time, the LINKBTC pair has also tested the lower Orange Trendline in the Pitchfork where it was rejected as well.
Looking at both charts, 51USDT could be the short term top. There is definitely a chance for a short pullback to retest the Purple Trendline as support for LINKUSDT (currently around the low 40s).
However, looking at the 1d and 2d timeframes above where upward pressure is still present, the price could also trade within the high 40s range for a short while and have one more leg up before its next short term pullback.
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