Lorenzo Stroe
Independent Analyst
- LINK/USD exploded again even though the digital asset was already overextended.
- LINK bulls are extremely strong right now and eying up $18.
It’s definitely hard to predict when LINK’s rally will stop or at least pause as it seems the digital asset is not facing a lot of selling pressure. ChainLink is currently trading at $17 after a brief pullback towards $16 but the bullish momentum remains strong.
LINK/USD daily chart
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Clearly, LINK’s momentum is unstoppable even though the daily RSI is extremely overextended. The trading volume has been increasing significantly over the past week which indicates the breakout is not just a random pump.
Bulls have defended the daily 12-EMA several times in a row and bounced quite hard from it.
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