$LINK: Spanking the weak... transferring wealth to the strong.
Updated
LINK isn't pumping like the masses want it to... which for me is totally fine. It's fundamentally one of the strongest projects in all of crypto.Technically! I've really liked the Pitchfork indicator and how the price action has been respecting the pitchfork deviations to a T! The two arrows show the nice perfect touches on that upper .5 div. Currently we're see PA consolidate around that upper 1.0 div, and if we don't reclaim it? I wouldn't be surprised to see it go lower to test the .5 or even the median again. However... these are just distractions. A lot of newer people are chasing the pumps all over defi and the new binance stuff... and while you hate to see it? The patient will be rewarded in the long run.
If link can maintain above the lower rising trend line (red), and the .5 div? I'd expect to see it test the 2.0 deviations. 40 dollars is the target before we have to adjust the angle of the pitchfork to accommodate the price action!
Stay strong marines. 2 dollar swings in price action will be laughable in a few years. We'll have 100 dollar candles in a single day easily.
Note
Looks like that lower rising trend line is acting as pretty decent support! Let's see how LINK handles the close of this current 4 hour candle above the upper 1.0 div. If we see the body close above, and a following bullish candle? I wouldn't be surprised at all to see it continue upwards to test that upper 1.5 div. Market feels skitish at the moment, lots of indecision so we'll see. Either way I'm just stacking as much link as I can and waiting 5 years.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.