On February 3, 2021, LINK started trading at $23.71. As of February 9, 2021, the closing price of LINK was $27.60. Thus, in the past week, the LINK price was uptick and registered a surge of approx. 16%. Past Performance The past week has been bullish for LINK. The opening price of LINK was $25.46 on February 9, 2021. The closing price of LINK on February 14, 2021, was $33.16. The price has surged by approx. 30% in the past week. In the last 24 hours, LINK has been trading between $27.50-$35.28. https://ift.tt/3s1lIFr LINK Moves Ahead on Momentum Currently, LINK is trading at $31.70. The price has fallen from the opening price of $33.15. However, the price is slowly moving above the EMA and SMA lines. Thus, the price uptrend may resume after brief price corrections. The A/D and OBV indicators have started rising again after a steep decline, a few hours back. So selling pressures have diminished and whale accumulation is surging. Thus, the price is likely to rise again. The RSI indicator is at 64%. It is also slowing nearing the 70% mark indicating the crypto is being ‘overbought’. High buying volumes will push the LINK price higher. So, the price pullback was temporary. We can expect the trend to reverse soon. The Stochastic oscillator is showing a bullish market momentum too. The stochastic actual value line and 3-day SMA line have gone past 80%. Thus, the crypto is being bought in large numbers. This is the right moment for swing traders to go short. The market is poised for an upward price movement. Besides, the MACD and signal lines are positive. A bullish crossover by the MACD line over the signal line gives further credence to bullish market momentum. Thus, the price will rise again after intermittent price adjustments. The AO indicator is positive too. ‘Buy’ signals are becoming stronger. So, we can expect the price to go up. However, the ADX line is falling. Thus, the bullish momentum is still weak. The price rise may be temporary too. Currently, the price is above the Fibonacci pivot point of $31.98. If the price goes above the first Fibonacci pivot resistance level of $34.95, in some time, then a price upswing is confirmed. The price has already tested the 38.2% FIB retracement level of $32.31. If the price breaks out of the 23.6% FIB retracement level of $33.44, then a bull-run is assured. By the end of the day, if the price closes above the 23.6% FIB extension level of $37.12, then the price uptrend will continue tomorrow as well.
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