LINK Price Surge Triggers Overbought Warning Signs
LINK's price has surged by 10% in a single session to $11.58, but technical indicators are flashing warning signs of overbought conditions.
The Relative Strength Index (RSI) is at 86, which is near its extreme, and the price is trading above its own Bollinger upper band with a %B of 1.17, indicating that buyers stepping in now may be inheriting risk rather than value.
According to blockchain news analysts, this move fits the profile of a proxy trade catching an altcoin wave, but the wave appears to be cresting right at current levels.