LINK has been a strong-gainer in recent months as it's a clear crowd favorite. This means there is serious demand. However it is experiencing slight selling pressure at the moment which will print a price re-tracement down to find support. This price correction can be indicated through the RSI trend-break on the 4HR.The TA:
4HR:
The 50EMA & 100EMA have been extrapolated to accurately forecast future potential buy-in opportunity. Suggesting between $2.9-$2.8.
1HR:
The bollinger bands are widening which suggest more volatility is to be expected. As suggested I'm expecting a short push-up into the previous support we have broken in which will now act as resistance.
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Note
Perfect drop into the support. I hope you who found value in this trade have gained a solid entry :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.