Brace for a Potential Thrill Ride Down to $11.785 for LINKLINK seems to have established a peak and may be at risk of dropping below the $14.825 support level in the next few days. Supporting this bearish outlook is the daily Moving Average Convergence Divergence (MACD) and the daily Relative Strength Index (RSI) indicators.
Over the past 48 hours, the daily RSI line crossed below the daily RSI Simple Moving Average (SMA) line. This signals that sellers have gained the upper hand on LINK’s chart, and may continue pushing the altcoin’s price down in the short term.
Meanwhile, the daily MACD line was closing in on the daily MACD Signal line. This could be an early indication of LINK’s positive medium-term trend undergoing a bearish reversal in the next few days.
Should these technical flags be validated, LINK could fall to as low as $11.785 in the next couple of days. A potential confirmation of this bearish thesis will be when LINK breaks below $14.825. Conversely, the altcoin remaining above $14.825 for the next 48 hours could invalidate the bearish thesis. In this scenario, LINK may climb to as high as $17.150 in the short term.