LINK: $6 support holding stronglyLINK started July with side trading. After reaching the $6 support line, there has not been further market strength to push the price to the downside, so the price managed strongly to hold to this level. This is actually good news for LINK, considering overall negative market sentiment due to macroeconomic developments.
The price range during the week was $6.13 up to $6.8. Resistance line at $7.0 has not been clearly tested which leaves some space for the coin to test it in the coming period. RSI reflected market side trading and was moving between 46 and 48. There is still no clear indication that the market is ready to push the price toward the overbought territory.
Technical analysis is pointing to a potential for a $7.0 resistance line to be tested in the coming period. In case that this level is breached to the upside, long term resistance line at $8 might be LINK`s next target, however, there is no clear indication that this might happen during the week ahead. On the opposite side, a probability is holding for the $6 support line to be tested once again.