Technical analysis by BeInCrypto about Symbol LINK on 21 hour ago

Chainlink (LINK) has gained impressive momentum, rising nearly 39% over the past week. This strong price action reflects renewed investor interest and bullish sentiment around the altcoin. However, technical indicators suggest caution may be warranted in the short term. The Relative Strength Index (RSI), a popular momentum oscillator used to measure overbought or oversold conditions, currently indicates that LINK is overbought. RSI values above 70 typically signal that an asset might be overextended, making a pullback or consolidation likely before further upward moves. For LINK, this means that despite the recent rally, traders should be prepared for a possible correction or sideways price action as the market digests gains.