LINK: smooth movesAnother relatively calm week for LINK, however, this time the market was more oriented toward the downside. The price of LINK was moving in a range between $7.2 and $6.8, finishing the week modestly below $7.0 support, which has been tested during the whole week. LINK was following general market sentiment, however, managed to sustain the price around level of $7.0 which is positive for this coin.
RSI is showing the potential for the price to move further to the downside. The indicator was moving below level of 50 during the last two weeks, reaching the level of 45 as of the week-end. MA50 and MA200 continue to move as two parallel lines, not providing much indication whether potential cross is in prospectus or not.
LINK is clearly in a reversal mood, and must finish the cycle, before it starts again its road to the upside. Support line at $7.0 will be tested at the beginning of the week ahead. In case that it is clearly breached, the next support line stands at $6.5. On the opposite side, there is no indication that $7.5 could be tested. Instead, the coin might just shortly reach $7.3 before it reverts back to $7.0 and below.
