LINK Price Analysis: Unaffected by BTC Dump
During this BTC dump that saw 7% wiped off the value of Bitcoin with the rest of the Market also seeing the same sort of drawdown, Nouvive is currently finding coins with the best Value fundamental and technical Analysis. Link being one of them.
What does the Chart show?
- On the lower time frames, Link has seen a double bottom at 8000 Sats, this means that it will seek to retest two levels in the short term 8400 Sats where there is a volume gap and 8800 Sats where it previously was trading on the day.
- Buy side volume has been heavily in its favour, especially as it continues increasing its Market sentiment; that has been growing week on week.
- RSI Stochastic has swayed in the bulls favour - illustrating there will be enough momentum to see LINK close the day flirting with 8800.
- Based on the stated levels, a re-test of the bottom at 8000 and a breakdown could see LINK re-visiting 7800.
Nouvive Says: Not only is LINK fundamentally great at what they are seeking to accomplish - Nouvive have found them as being one of the great trades especially during Bearish periods of Bitcoin. Despite BTC’s 8% fall, LINK is up 3% on the day and will most likely end it with a further 3% gain.
Nouvive sees the following levels:
- Re-test of the trend line at 8000 Sats - a break-down of that level could see a flirtation with 7800.
- Volume gap at 8400 Sats
- Previous highs of 8600
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