LINK doesn't need any introduction; it has a great project, a great community, and has also given great growth. It seems the corrective wave has ended at 0.382 Fibonacci retracement and now the price is about to break the consolidation triangle-shaped area. Let's see how things unfold.
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It looks like LINK is trying really hard to break the consolidation triangle-shaped area.
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So, after LINK broke the consolidation area upward, it went up. Then, LINK entered another consolidation area; this time a rectangle one. Let's see when LINK breaks this one.
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LINK broke the consolidation rectangle shaped area and is going up.
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So, even though LINK broke the consolidation rectangle-shaped area and went up, LINK returned to the consolidation area again! It seems this area is strong and behaving like a magnet that attracts LINK. Let's see when LINK can get free from this area.
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So, as it turned out, LINK in moving in an inverted wedge pattern, not a rectangle area. Recently, LINK touched the wedge's bottom and then started an upward wave. Let's see if LINK can break the minor downtrend line or even reach the wedge's upper line.
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So, LINK went down much further and made a pullback on the broken triangle-shaped area. It seems LINK's correction is finished when broke the first minor downtrend line. For confirmation, have to wait for LINK to break the second one too. Let's see what happens.
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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.