Full Breakdown of LINK | Breakout? | 1H, 1D, 1W Charts | News

LINK Integrations, SHIB vs LINK

LINK, the Chainlink coin, has been the topic of the hour with many still under the radar wondering what the hell it is, and why is it up 16% this week while other alt coins are far behind? To put it short, Chainlink's CCIP (Cross-Chain Interoperability Protocol) has everything to do with it, and with Chainlink reaching a new milestone announcing 10 new integrations with blockchain networks including names like Avalanche and Ethereum, it's bout time you hop on the new evolution of Web3.

LINK is also on it's way up the ranks, with SHIB being one of the biggest meme coins now sits bellow LINK. Bringing LINK to 18th place.

1D Chart

- Wyckoff Distribution: Here to show the phases that which we reside, as you can see we are well past Wyckoff Distribution and are now at a level of support (4.7)

- FIB: We have been sitting here for over a year in consolidation. There has been a consistent pattern where we hit the 0.236 retracement then pullback for a couple months, as you can see we are reaching the level once again for a fifth time.

- Parallel Channel: Shows a steady decline

- Volume: Low trading volume meaning possible breakouts

- RSI: Relative Strength must stay above 40.00

- SMA: What help is this anyways lol

- Elliot Waves: Thought I should include the Elliot waves (ABC) because it was a pattern I was seeing since the last hit of the 0.236.

1H Chart

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After crashes both in spring and summer, it was followed by a bullish rally. Both lasted 52 days before there was an uptrend.

- FIB: Summer rally hitting retracement levels, keep eyes out for any rejections

- Indicators: Northing much matters, just keeping an eye on 200 SMA to see if it still plays as a level of support (Summer)

1W Chart

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- Stock RSI: Uptrend, getting ready to hit parallel channel and 0.236

- RSI: Probably the biggest thing to point out in this entire analysis is the Bullish Divergence

Bonus Chart

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- Please tell me your thoughts in the comments of my analysis where you think the price is going, as it would help me out to make more of these! Thanks!
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