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LINKUSD

Chainlink lost its all time price channelLINK fell below its all time price channel back in early December 2021, a sign that buyers were exhausted and sellers have dominated the price action. When such a scenario takes place, the market maker is in control pulling up buy walls at a strategic point in the chart. In this case they protected pre-2021 valuations and went on a buying spree between 15 and 16 USD in confluence with previous support in July and the 1000 EMA on the daily. From that point we have seen a strong reaction upwards with the market maker again in control retracting their sell wall and pushing up their buy wall. With success, traders and investors took the bait and LINK surged over 80% to retest both the price channel and the bull market support band, where price got rejected. Currently LINK is heading towards the middle of this local range between 28 and 15 USD. Price action will depend on the stock markets across the globe as well as Bitcoin's price action. LINK is one of the most correlated coins with Bitcoin, this creates vulnerability during Bitcoin corrections and relative strength in a Bitcoin dominated uptrend compared to other alts. Even though we are in a downtrend and LINK is likely to test previous pools of liquidity we haven't seen since December 2020, the king of defi will reappear as one of the most valuable projects in crypto in the future. With many institutional interest in the past years, price action tells us that most early investors took profits and it tells you about the stance of VC's and whales towards the crypto market. Given their average buy ins and their position size, they don't need a 3 figure LINK to make life changing money - and they didn't need it in the first place - they already had it. Their play money went into these projects and heavy profits were taken when retail was buying into the hype. The institutional backing creates organic price action for LINK, price action that comes with realism and heavy selling when things turn bullish. The very reason many people call their Linky so stinky. What we can conclude - by just looking at LINK - is that the post summer rally in crypto was rather a retrace and part of a corrective impulse. LINK has failed to set a new high and is one of the first altcoins to see summer 2021 valuations. This projects the reality of many other altcoins (most with less fundamental value) of what is about to come. Realistically we could expect a downtrend until Q3 or Q4 of 2022 together with a possible 40-70% correction for LINK. Many other projects would bleed much more and most memes coins - especially the ones outside the top 100 - will fall close to zero. For LINK however, the future looks bright and a chance to get a VC entry on the oracle provider of crypto should be seen as an opportunity rather than a threat to your portfolio. IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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by cryptobullethbtcxlm
9
Chainlink up 20% from 2022 lows, LINK Breaks out Past Performance of Chainlink Chainlink prices are steady at spot rates, firm, like the rest of the cryptocurrency markets, and up 20 percent from 2022 lows. After plunging 88 percent from May 2021 highs, there are flickers of hope for bulls. Thus far, LINK is stable on the last trading day and breaking out from the bear flag. However, the resilience of bulls will be demonstrated once there is clear thrust above July 16 highs, ideally with expanding trading volumes to signal participation. #Chainlink Technical Analysis From the daily chart, there are encouraging higher highs. With increasing trading volumes, the recovery from $5.5, a multi-week support level, could be the anchor propelling LINK to June 2022 highs in the near term. Thus far, Chainlink is trending above the bear flag following the breakout of July 16. The failure of bulls to follow through on July 17 may present an opportunity for aggressive buyers to double down on every dip today. This bullish preview is valid provided prices are ideally held above $6 and $5.7—or last week's lows. Meanwhile, a firm close above $6.8 may trigger more participants into action, lifting LINK towards $7.5 and later $9.5. What to Expect from #LINK? Buyers are confident, but there must be more confirmation of the end of last week's gains for the upside to take shape. Currently, traders should watch out for how prices will react at immediate liquidation levels at $6.8. Resistance level to watch out for: $6.8 Support level to watch out for: $6 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Chainlink Inside a Bear Flag, Primary Support at $5.5Past Performance of Chainlink Chainlink prices are trending at around 2022 lows, and sellers are still in control. Despite the optimism, LINK prices are within a bear flag with decreasing trading volumes. With LINK stable and up two percent on the last trading day, the short-term trajectory depends on the reaction at $6.8 or $5.5. #Chainlink Technical Analysis LINK prices are within a downtrend and inches away from 2022 lows. The primary support lies at $5.5 and is a critical level that may define the short to medium term. Since LINK bulls have been unable to close above the bear flag and initiate the move up to reverse losses of the first half of June 2022, sellers are still dominant. In the short term, traders can wait for a breakout formation with high trading volumes above $6.8 or $5.5 before entry. A close above the bear flag at $6.8 may see Chainlink prices rally to June 2022 highs of $9.40. Conversely, losses below $5.5 may trigger a sell-off, forcing LINK to new 2022 lows. What to Expect from #LINK? Technical candlestick arrangement favors sellers at spot rates. Prices are currently inside a bear flag with waning upside momentum. So far, Chainlink bulls have been unable to reverse losses of the first half of June. Resistance level to watch out for: $6.8 Support level to watch out for: $5.5 Disclaimer: Opinions expressed are not investment advice. Do your research.
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by Bitcoin_Analyzer
1
Linkusdt 3D Buyers are trying to push the Link price upYour attention is the global chart of the trading pair Linkusdt on a 3-day time frame For more than 2 months, buyers of the Chainlink token have been trying their best to keep the price above the $5.50 level. And although it is difficult in the current maximally suppressed phase of the crypto market, but they are succeeding at this time. Maybe now buyers are trying to form a reversal trend figure: Double bottom, or Adam and Eve. The working goal of working out this pattern is in the area of ​​15 dollars. In general, there is a large liquidity zone $12.5-17.5 above, and at the moment there is little belief that they will be able to break it upwards with ease. If such a miracle happens, then the maximum positive goal for 2022 for Link is 22 dollars. A clear signal that the buyers will have capitulated, and the sellers have won the fight, will be the fixing of the Linkusd price below 5 dollars. In such a situation, one must be very careful and realize that the next support level is around the $2.70 area _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
by P_S_trade
35
LINK/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice. The chart is on the weekly timeframe. From the data that I see on here, I think the bottom is in. We will be ranging between the two green lines as I believe that is the accumulation zone. If we break below the bottom green line, I will find a new chart. As you can see, the data given to me here is only from 2017 so the count could be incorrect. We are already at the bottom of the green line. I do not think we will go lower. RR: 22.2 Stop loss placed under a 53% drop @3.5
BINANCE:LINKUSD
by AyoKu
2