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LINK

Recent Downtrend and Potential Future ScenariosOver the course of the last month, LINK has experienced a discernible decline in its market performance, primarily attributable to a notable decrease in demand. This decline became particularly evident when LINK's price broke through both dynamic and static support levels, occurring within the price range of $7. Consequently, LINK retreated to the support range that corresponds to the lower boundary of the weekly range channel. This recent downtrend, as observed on the daily timeframe, has prompted analysts to identify a key resistance level at approximately $3.8 for the short term. The significance of this resistance level lies in its potential to influence the cryptocurrency's price trajectory. If the price of LINK approaches this critical level and elicits a negative response from the market, it could signal a continuation of the ongoing downward trend. In this scenario, we might witness a sustained descent towards the lower boundary of the aforementioned weekly range channel. It is crucial to note that LINK's downward trajectory on the monthly timeframe adds another layer of concern. This long-term perspective underscores the possibility of a more profound correction for the cryptocurrency, especially in light of the broader market dynamics, such as expectations of a substantial correction for Bitcoin. Under these circumstances, there exists a palpable risk of LINK breaching the lower boundary of the channel and extending its descent towards the $2.9 range. In summary, LINK's recent performance has been marked by a downward trend fueled by reduced demand, as evidenced by the breach of critical support levels. The short-term outlook hinges on the response of the price to the $3.8 resistance level, with potential further declines if negative sentiment persists. Additionally, the monthly timeframe suggests the possibility of a deeper correction, influenced by broader market trends and the potential for LINK to breach the lower boundary of the weekly range channel, possibly reaching the $2.7 range.
by MonoCoinSignal
14
Forever in Range or #LINKI will try to be short and clear about LINK. The coin already 468 days in the range. I highlited all very important levels on the chart: Red lines - strong resistance levels, all are Monthly FVGs Green lines - strong support levels also all are Monthly FVGs. Line no 1 - the coin will dump until 5.1$ level, will bounce, test the 5.8$ level and will continue downward move towards to 4.45$ and probably below. Where it may find good support. Line no 2 - Link bounces until resistance line (blue line) manages to break through that resistance in this case we can expect to see the coin at 9.6 - 10$ strong resistance level. Where we can expect bears reaction. Line no 3 - Link continues to be in the range next hundred days)))
by vazitrades
LINK/USDT Potential Bounce Back and Upward Movement 💎 Hello Paradisers, spotlight on this token! 💎LINK Dump Hard following BTC's descent to $24k. There's potential for a price rebound, forming a new leg, before it continues its downward trajectory towards the Bullish Order Block. 💎This Bullish OB, representing a robust demand zone, is an optimal point to consider acquiring Chainlink. 💎There's a high probability of a significant price bounce in this area, setting LINK on an upward path targeting the major supply zone. Given LINK's strong fundamentals in the crypto space, it's a worthy hold for the long haul.
by MyCryptoParadise_Nathan
LINK/USDT 1DAY UPDATE BY CRYPTO SANDERS !!hello, welcome to this LINK/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Chainlink (LINK) snapped a four-day losing streak on Monday, despite the global market cap mostly tracking lower to start the week. Following a low of 7.32 on Sunday, LINK/USD jumped to a peak of 7.54 earlier today. Monday’s move sees the chainlink edge closer to a key resistance level of 7.65, which was last truly broken on July 30. an upward crossover between the 10-day (red) and 25-day (blue) moving averages looks imminent. there is a strong possibility that Chainlink may not only move past the aforementioned ceiling but closer to the 8.00 level. LINK is tracking at 7.38. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
Long
by CryptoSanders9563
4
LINKUSDT: looking for shorts8 USDT is resistance on the Daily and the Weekly. There's a Trend-based Fib resistance around 7.85 USDT on the weekly. The 7.85 - 8 USDT area is also a "bearish" order block/FTA (first trouble area) on the 8H. "Bearish" order block/ FTA = last green candle before downtrend. It's the area where price has a (relatively) strong reaction to the downside (bullish order block is vice versa). This level also aligns with the 0.786 Fib resistance. Let's see if price reaches these levels. Might not get higher than 7.7 USDT. On the 8H there is a bearish order block. And 7.7 USDT is confluent with the 0.618 Fib resistance.
Short
by FibonaccIvo
BITCOIN SHORT TECHNICAL POINT OF VIEW From technical analysis point of view I would say that in next couple of weeks we can expect that price will reach 33.000$. Everything above 33.000$ is my area for placing sell orders. There are gaps which has to be filled. Every trendline should have at least 3 touches. From my analysis I can see that gap fill, perfectly connects with the 3rd touch of upper trend line. These gaps fills are also at 18.380$ ,14.280$ and 12.480$. 12.480$ is my target for next next couple of months. PSYCHOLOGICAL POINT OF VIEW Put yourself in head of other investors. Ask yourself: How are they thinking at this moment? Where they are placing their orders? Are they placing buy orders or sell orders? Are they expecting lower prices or higher prices? . . . I would say that currently we are in the phase of uncertainty. We need big push to the upside or big push to the downside to "trick" investors aka. create manipulation of the market which will cause placing more orders on false short term pump or dump which will reverse in much bigger move in right direction. FUNDAMENTAL POINT OF VIEW Regulation of cryptocurrencies will definitely affect markets. A lot of crypto projects will die through regulation process. I think we will hear a lot of bad news coming out before we start a new bull run. We need capitulation (big fall of prices) which usually is more than 30% in a single month. This capitulation will be the answer of bad news coming out. This is only my opinion what we can expect in next couple of months before new bull run. Nothing in this post should be used as financial advice.
BITSTAMP:BTCUSDShort
by Cognitiq