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LINK/USD Remarkable Weekend Rally Hits Pause Under The 100 SMA Chainlink recovers from levels under $10 but the falling wedge pattern breakout stalls under the 100 SMA. LINK/USD mission to scale the levels to $20 still intact as bulls look forward to capitalizing on the break above the 100 SMA and $14. The $4.4 billion decentralized finance price live feed protocol has posted a relief rally following a devastating fall last week. Chainlink failed to retest the yearly highs at $20 in August. Attempts to sustain the uptrend saw LINK hit barriers at $16 and $18 respectively. On the downside, support was confirmed severally at $13. However, the bearish wave encountered forced the fifth-largest cryptocurrency slightly below the critical $10 level. Amid the drop, Chainlink formed a falling wedge pattern. This pattern is very common in technical analysis. Traders are able to anticipate a change of the trend and prepare accordingly to capitalize on the upswing of the price. A falling wedge usually signals the end of a downswing and the beginning of an uptrend. Note that this pattern cannot be utilized on its own; it must be supported by other indicators like the Relative Strength Index (RSI) and the volume indicator. At the time of writing, LINK is trading at $12.79 after stepping above the initial support at $10 and the falling wedge resistance. Marginally above the prevailing price, LINK is facing acute resistance from the 100 SMA in the 4-hour range. Looking at the RSI, Chainlink seems to have stalled and is currently favoring a sideways trading action. The leveling motion at the midline favors consolidation in the near term. However, the uptrend mission is far from over. In fact, bulls have no plan to abandon their push for gains above $20. Meanwhile, gains above the 100 SMA would place LINK above the resistance at $14. This move would most likely encourage more buyers to join the market in anticipation of more upside price action and the opportunity to sell at a higher level, preferably $18 or $20. Chainlink Intraday Levels Spot rate: $12.82 Relative change: -0.05 Percentage change: 0.35% Trend: Sideways bias Volatility: Expanding
COINBASE:LINKUSDLong
by CoinGape
1
Link's another 50% correction possibilityWith more than 5000% gain in recent years, ChainLink is one the heroes in cryptos market. But recently it started some sever correction. Recently completed a 50% correction that was predictable. This my chart when I realized the possibility of correction and marked the possible targets: now as you can see, we reached to the first target: Now reaching to the second targets are reasonable based on USD index and BTC dominance re gaining in short terms. All I do is monitor my own algo to see if the projected scenario is achievable and when is the best time to enter. Since last year and half (after listing LINK in Binance) I’ve got 15 signals on its price action, 1 went wrong and invalid, 14 went right! Win rate 93%. This is the weekly chart you can see the bearish signal in the top before this 50% correction: Do your own research my friends and have best trades.
Short
by DarkWaveHunter
4
Chainlink Just Confirmed Bull RallyAlthough LINK has pulled back up to 50% we have confirmed a S/R Flip and We Expect That This Rally Is Just Starting... ChainLink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. ... For smart contracts to craft agreements beyond those that pertain to data found on the blockchain, they require off-chain data in an on-chain format. ChainLink is currently ranked #1 in De-Fi Coins. Definitly a good token to mid-long term hold.
GEMINI:LINKUSDLong
by contemplatingcrypto
5
LINK Is Inside The Void - Learn How To TradeLINK Is in a very difficult area to trade at the moment. In this idea I will explain which two major option you have if you are looking for a LONG position on LINK. First of all, let's look at *the void* in more detail. We can see the blue area on the chart where there is absolutely zero price support or resistance. The price broke through this area like a hot knife through butter. Also on the way back the breakout was very intense and made this area seem like an error in the space-time continuum. In scenario 1, you can wait for the price to find resistance again (through a multiple S/R flip) and see if it manages to break through. If it does a new uptrend is confirmed and you can enter during the breakout. In scenario 2, I suggest a different route where you wait for the price to hit the bottom of the void, near horizontal support. As soon as it hits support you can long again and try to get a trade in from that area. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
COINBASE:LINKUSDLong
by Trading-Guru
8
Chainlink--Correction ContinuesI'm a seller here. A serious neckline has been broken, with further drop expected. I'm making no bottom prediction here. Reasonable expectation is the .618 fib retracement level at 8.6. Another is the bottom line of the trend channel shown, since corrections very often are contained within trend channels. As I previously indicated, this is an EW wave 4 correction at primary degree. Wave 4's very often form a triangle, however, that is not likely to be an option here, although remains so on the LINK/BTC pair. At any rate, it is unusual for a wave 4 to make a deep correction, and in any case may not descend beyond the top of component wave 1 (which in this case is at 5).
BINANCE:LINKUSDShort
by TeKay
LINK/BTC to bounce from the 200 MA!As we take a look at LINK/BTC we see that the pair is moving within Descending Triangle pattern. During the last pullback from the Downtrend line we got 2 Bearish Engulfing pattern. The price is testing Support zone and nearby we have 200 MA that has been acting Support as well , so we can expect the soon-to-be RISE⤴️! If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section! Appreciate your time and good luck!😉
Long
by Alexander_Harford
8