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LNKUSD trade ideas

LINK: without strength for $8 resistance? It was an interesting week for LINK. Although trading volumes had significantly increased, still LINK was holding strongly to the sideway. Price was modestly pushed from level of $6.2 up to $7.7, ending the week around $7.3. It seems like LINK is trying hard to remain at current levels. Long term resistance line at $8 has not been tested during the week. During the week RSI reached level of 45, however, market strength was weak to indicate that it has started a clear reversal after the oversold market reached two weeks ago. Break of 50 line and clear path toward overbought market is still on hold. Moving averages of 50 and 200 days are not adding to the probability of next moves, considering that they continue to move as two parallel lines. Long term resistance line at $8 has not been tested during the previous week, so it remains a target for LINK in weeks to come. However, in a case of a negative market sentiment price might be pushed to the support line at $6 to test it one more time. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
COINBASE:LINKUSD
by XBTFX
🔥 LINK In A Massive Bull Flag: $100 Next Cycle?LINK has been one of the top performers in the last cycle, where it performed exceptionally well during the bearish part of the cycle. Sadly enough, LINK topped during the first top of 2021, only to trade dominantly bearish since then. However, there's light at the end of the tunnel. LINK appears to be trading in a bear flag pattern, which are classically bullish continuation patterns. Be aware that were currently still in a bear market and LINK could very easily drop another 75% from here. Theoretically, LINK could reach $100 next cycle. If we make the assumption that LINK will find a bottom at $3, we only need a 33x to get to $100, which should be doable considering it did a 320x from bear market low to bull market high last time.
COINBASE:LINKUSD
by FieryTrading
10
The New Chainlink Cycle Has StartedThis could very well be the new Chainlink channel before breaking the 8/1 Gann Fann and going to all time high. So as you can see from the two yellow circles this channel is becoming pretty important for link. Last time we hit the bottom of this channel it was the Covid crash March 2020. 791 days later we had the same thing happen capitulation crash to the bottom of this channel and so far things are looking pretty good, we keep closing weekly candles above it . The BTC/LINK time sequence is now officially started, check out this TA below . From here onwards Link has now started its new cycle, a potential rally could take it as high as 20 dollars this year , before rolling over at the top of this channel going into 2023. The next BTC/LINK sequence is now April 2024 which lines up with Bitcoin halving and March 2024 time Fib you see in this chart. It is possible that during the period April -March 2024 chainlink will break the 8/1 Gann Fann and start its parabolic move upwards and break all time high. Target for late 2024 would be 185-200 dollars.
COINBASE:LINKUSDLong
by Sporia
6
LINK: low probability for stronger reversalDuring the previous week LINK was clearly traded sideways. Price of the coin was moving modestly toward level of $7.6, however, during Friday`s trading price reverted again to the downside, ending the week around $6.5 level. Price recovery, after reaching a clear oversold market, continues to be on hold, as there is still ongoing selling pressure for this coin, but luckily, with significantly decreased daily trading volumes. RSI continues to move in the oversold zone. Highest level reached during the week is 34, which clearly shows that the market is still not ready for a price push toward upside. Moving averages of 50 and 200 days does not provide much support to technical analysis at this moment, as they continue to move as two parallel lines with downtrend. Based on technical analysis there is potential for LINK to move toward the $6 support line in order to test it for one more time in the coming few days. On the other hand, there is equal probability for a move to the upside and long term resistance line at $8. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
COINBASE:LINKUSD
by XBTFX