Chainlink Technical Analysis: LINK/USD Blasts New All-Time Highs
Chainlink has ascended to new all-time highs around $17.00 in the push for gains eyeing $20.00.
LINK/USD is trading within a rising wedge pattern spells doom with a possibility for breakdown to $15.00.
Chainlink is arguably the best performing cryptocurrency in the market this August. It is giving major assets such as Bitcoin, Ethereum and Ripple a run for their money. For instance, at the time of writing, LINK/USD has surged over 27% to trade at $16.41. This follows a minor retreat from highs around $17.00. A bounce seems to be underway after the price embraced support at $16.00.
From Monday, Chainlink has been on an impressive journey of breaking key barriers. The bullish action has sustained incredibly well above the ascending trendline (forming part of the rising wedge pattern. The price has formed a good higher high and higher low pattern but with the upside limited by the rising wedge pattern, progress eyeing $20.00 could be jeopardized.
Effort and attention among the bulls are channeled towards breaking the resistance at $17.00. Perhaps with the hurdle in the rearview, LINK/USD will encourage more buying entries, thereby drawing nearer to the ultimate level at $20.00.
Technically, upward momentum has lost its charm at the moment. The Relative Strength Index (RSI) is holding above the midline but struggling with movement towards the overbought (70). The MACD, on the other hand, is trending above the mean line (precisely at 0.2814). It features a minor bearish divergence (-0.025).
In other words, the path of least resistance is no longer to the upside. Instead, Chainlink is likely to focus on holding above the support at $16.00 in order to avert further losses to $15.00. Other support levels lie with the 50 SMA and the 100 SMA in the 15-minutes timeframe.
LINK/USD intraday levels
Spot rate: $16.18
Percentage change: -1.31 (on the day)
Relative change: -0.15
Trend: Bearish bias
Volatility: Shrinking
Chainlinkusd
Buying Chainlink Fomo Here Is Very SketchyAll of the talk in crypto town is around chainlink.
You know what they say... when everyone is talking about it, probably not a good time to buy.
This one has an insane rally and now is dead on Resistance at $10.
If your buying this now, I pray for you.
I personally think it's a good time to take profit and hop out.
The risk to reward buying here is not worth it, lots of room for support drop off.
I'm not interested, but I do wish you the best of luck hodlers.
Have you given up hope? LONG LINKUSDPlaced two stop losses (S1 being for day-swing traders) & then the main one being S2 -- for the superlong HODLER) who has been in this far too long to quit.
I learned to program python 3.6, cobolt 6, java, API & cloud computation + data compression through kubernetes/docker... I've invested too much time into this career, what am I supposed to do?
I learned to be a financier (from trendline breakouts) to fundamentals/market data, conducting TA & more...as I've said -- TOO MUCH OF MY LIFE/TIME INVESTED/WASTED, WHAT AM I GONNA DO?!
Just QUIT?! & "LearntoCode?"
I can't...this is ALL i know how to do...
Anyway I'm balls deep in and when I see a superlong like this (est. timeframe >30 days min-- though if I had to GUESS a ballpark on these figures I'd say 2-3 months. So by start of Q3, that's a complete pulled out my ass figure so don't take that as bond.
When I see patterns emerge like this from a fundamentals perspective I cannot help but get excited for the future, despite the fact that i've cried myself to sleep last night and every night since last Monday.
Disclaimer
Note: This is strictly conjecture based on my own technical analysis and not any information based on any sources from the GOP Or federal government/treasury dept / ay institution of any form this example is for educational purposes only and should not be relied upon for any other use. Please invest responsibly and make all decisions based on your head; not your gut. Any projections or figures provided in this analysis are Forward-looking statements And have no basis Other than my own opinion and not information related to the GOP, SEC or wall sf in general. Just the wiz doing what he always did best — Disclaimer must be extended and extensive So forgive me as I need to truly emphasize None of the information obtained in conducting this analysis was provided by insider trading in anyway shape or form.
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Chainlink Potential BreakoutYou can see there is a bullish flag here. And Link just broke the upper resistance if we could stay above, the price we soon go up again, ending the consolidation phase.
I thinking of buying near 7,3ish and 7,0ish, with a stop near 6,4ish.
Still waiting for confirmation< here at the 1D chart
RSI and MACD are trying to go up again, and let's wait for the crossover.
LINK.USDT\BTC (Y20.P3.E4).TA on the Macro structureHi all,
My thoughts on LINK both USDT and BTC pairing.
My thoughts are:
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> LINK.USDT < based on the below chart, on the right plain
Based on my chart, we have a typical channel bull flag, as per chart and its found the fib. level 0.5 a area of demand and the 0.382 as support
On the daily, and longer time frames 2D, 3D etc the upward pressure is still there. However the weekly its dropping of
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> LINK.BST < based on the below chart, on the left plain
* I see a temporary rally against bitcoin while BTC consolidates (forming a bull-flag likely a wedge or pennant) for another leg up to 12K +
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Snapshot of LINK.USDT a bit early in the day when I planned to draft this post (ref. below I.Charts)
I believe for what ever comes to BTC top this year will be wave 5 followed by ABC or 123 downward impulse (correction) then to start the next wave up of the macro structure, from 2 to 3 point of the elliot wave.
Hence my thoughts is that many of the ALTs have made their top in this cycle and the remaining time will be the 123 impulse to find the bottom while BTC does the same.
Note, I did buy into LINK today with the understanding that it will fall short or double top before sliding further down as the previous cycles as shown on the main chart.
Please give me a like or tick for this post
Regards,
S.Sari
BTC fractal
My PREVIOUS LINK.BTC chart posted
ChainLink (LINK) LONG Falling Wedge in support of 50% Fib-RatioHello Viewers.
Chain Link after a huge boom of Rally, making it lie-under top rannked Cryptos, Possibly a breakout can be seen through the Falling Wedge, Potential Entry is around 50% Fib-Ratio, in support with Over Sold on MACD , RSI and MA"s. Potential resistances on charts are Targets to hit.
Chainlink Update once again Looking at the RSI Updated from my ealier 2 post we are officially in the sell region on the 1h chart now you can either wait it out a little longer or sell the choice is yours although note the MACD is indicating uptrend still so i personally will hold till the RSI is 60 or higher however if you boughht in my earlier buy signal you should have made a decent trade.
Thumbs up comment opinions
Follow the RSI on on 1h Chainlink Update on last Post, For everyone checking out my charts if you caught the buy signal i last posted on LINK this new update is when to sell. Any where in this area of the RSI will be a good sell signal no bearish divergence for chainlink dont sleep on it. the goal is to buy low sell high this bull run has officially started profit as much as you can.
Also if we look at the MACD Chainlink is about to have a Golden Cross for a short term uptrend from the buy signal i posted earlier
for long term holders in Chainlink keep stacking it will shoot to the moon as well in my opinion do your own research though, i get it LINK has been performing terribly the past week almost 2 weeks now
if you like my charts hit the thumbs up been trading for months now had to learn a lot now i will be posting ideas i will update on BTC and also ETH later tonight possibly
LINK/USD, FOMO is Still in the AirMy Last Analysis on LINK/USD, has reenacted somewhat similar, and I pulled out at 7,1ish.
Overall I don't think greed for LINK/USD is not over yet and FOMO is in the air.
I advise we all just stay calm and be rational, LINK just reached its all-time high, it doesn't sound logical that it will go any higher in upcoming weeks. I would say a ranging market to appear would be more logical if LINK able to maintain its value than going on a higher price.
For those that wish to trade in the current situation, you are welcome to use this as your references:
From here we could identify 3 key levels for LINK; 8,1ish, 7,6ish, and 7,1ish.
Here another bonus
Chainlink Vs. USD - 3 Day Chart, TD Set-up, & Swing Trade IdeaThe 3-day chart is the Golden Chart for Chainlink vs. USD at the moment.
The TD indicator has lined up multiple TD 9 tops that have predicted 2 to 4-day pullbacks, and then set up a run for new all-time highs. We have just printed another perfected TD 9 candle and are currently on our first 3-day red candle. I would anticipate another one to three 3-day red candles before we set up for another TD 1 to 9 candle run leading to new all-time high prices.
The .236 Fib level looks like a likely target for the LINK price to pull back to. That price is currently around the $7.2 USD range. If support is held at the .236 Fib level, that is an indicator to average into a swing trade position. If the .236 Fib level is broken, look to the .382 Fib level for the next support level where the price will be around $6.5 USD.
Also, the RSI adds support to this idea as it is extended into the overbought range and has recently begun to head lower as the last rally has sold off. Watch for the RSI to reach the 61.26 level as that seems to be an important support & resistance zone. If it reaches that level and treats it as support, that should give a buyer confidence to begin averaging into a new swing position.
The TD Sequential set up, along with the Fib & RSI support levels on the Chainlink vs. USD 3-day chart are telling a rather predictable story for future price movement.
I like this set-up for a new swing trade (or long term hold position) given the overall bullishness and high trade volumes as of recently for Chainlink. I believe the crypto-asset will be another winner giving investors multiples on their investments if purchased at these levels.
CHAIN LINK / USD - is it time to sell yet?Hello, Traders!
Today, I'm going to show you the trend I followed with the CHAIN LINK.
LINK has been one of the fastest-growing cryptocurrencies of 2020, but will this growth continue? Various indicators are stating that the growth will continue and that this move down is simply a retracement.
Continued buying suggests continued bullish movement is ahead with the RSI (Relative Strength Index), showing that the trend is still very much bullish. LINK’s trend magnitude is significant, with the RSI over 60 for the whole of July.
On the contrary, the Heikin Ashi is pointing towards a period of downwards movement. This is seen with the most recent Heikin Ashi candle being red, suggesting that a retracement may be in place.
If this downwards movement continues it would see the SAR (Stop And Reverse), a momentum indicator, flip. This would suggest that the momentum has switched from bullish to bearish. The gap between the SAR line and the candles is very small, the wick of the recent downwards candle is almost touching the SAR line. It is important to note that with strong trends, the SAR is a very effective indicator. If the SAR did flip then a retracement would be highly likely, although to what extent could be indicated with the BBs (Bollinger Bands).
A retracement would likely see LINK test the median line (red line) of the BBs. If this occurred LINK would fall to around $6.5 USD, a 17% loss from LINKs current position.
Overall the indication is that the bullish movement will continue. Some indicators are suggesting that a reversal will occur, opening up a potential dip buy opportunity, before the further price increase. The overall trend remains bullish.
Will the market dip this week?
Good luck and keep up with the market!