LINK's price might hit $8.12 or drop to $7.65 as it hovers around $7.99. Break above $8.12 could push it to $8.50.

The cryptocurrency LINK is currently trading at $7.99, showing a consolidation pattern. It seems to have run out of momentum just below the SMA 50 resistance level. If it manages to close above $8.12, it could potentially reach $8.50. However, there are concerns about decreasing open interest and an increase in sell-side taker dominance in the market.