LINK: is it time for higher levels, or still not?Side trading continues for LINK third week in a row. During the previous week, the coin managed to move in a range from $5.6 up to $6.57. On a positive side is that during the last four days, buying orders were the dominant one on the market, which might further support the coin in the week ahead.
Positive development as of the end of the week was that RSI was pushed modestly above line of 50. This is indication that the market is looking for the path toward the overbought side. With such development, a path to a new resistance level might be open. Moving averages of 50 days stopped its modest divergence from MA200 counterpart and currently they are moving as two parallel lines. Still, there is no indication of a possible convergence toward each other and cross in the coming period.
As per technical analysis, there is still space for LINK to test the $7.0 resistance line, which coin did not manage to do during the previous week. As daily trading volumes are decreased, the market still does not have strength for a clear move toward $7.0 and above. However, dominant buying orders are increasing such possibilities. On the opposite side, the support line at $6.0 might be tested for one more time.
