Market Direction

Bulls and bears lock horns over LINK: Who will triumph?

Updated: Jul 25, 2024

Published: Nov 7, 2023

For LINK, the technical indicators paint a picture of an overbought asset teetering on the brink of a flush-out. This isn't just any routine market fluctuation; it's the kind of drama that often has traders glued to their screens.

What’s next for LINK?

TLDR

LINK is currently at a pivotal point, having surged into a resistance range between $9.67 to $13.38.
The immediate support is between $11.00 and $11.60, with critical horizontal support at $9.67.
The RSI indicates an overbought scenario, suggesting the likelihood of a correction.
We advise caution with LINK at this juncture; a significant pullback is likely if the current market conditions persist.

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

Technical analysis

From a technical analysis perspective, LINK now finds itself in the upper range of $9.67 to $13.38, having broken out of the 2-year range from the $5.00 area to the $9.60 area. LINK has now found resistance at the $13.38 horizontal resistance and has initially rejected from that level. The local support is between $11.00 to $11.60, with the most major horizontal support at $9.67.