As the weekend commenced, the cryptocurrency market remained relatively neutral. According to CoinMarketCap, the value of LINK has observed a 5.58% increase within the last 24 hours.
Investigating the Hourly Chart
When examining the hourly chart, it is evident that LINK’s price is trading above the local resistance of $8.156. If the daily bar can secure a position above this mark, it’s plausible to anticipate the upward movement extending towards the $8.50 zone shortly.
Insights from the Daily Time Frame
Mirroring the hourly chart, the daily time frame indicates the candle is on the verge of solidifying above the $8.070 level. If the buyers can maintain their current momentum, we could see a potential surge towards the $9 mark in the coming week.
Observations from the Weekly Chart
Turning our attention to the weekly chart, it’s crucial to note the interim area of $9. Should the candle close in close proximity or above this mark, the energy amassed might be sufficient to trigger a channel breakout, subsequently propelling LINK towards the $11-$12 zone. At the time of writing, LINK is trading at $8.157.
For those interested in keeping a close eye on these developments, the cryptoview.io application could serve as a valuable resource. It provides comprehensive insights and data that can help you stay updated on the latest trends and movements in the crypto market.
