LINK is consolidating in a symmetrical triangle. This is a bullish pattern and we are in a short term uptrend.
But we are also at very strong resistance (red line) from the long term falling wedge.
By a breakout we could expect the targets in the red shaded area. Since we break the falling wedge then as well we could expect even much higher prices (see post from yesterday).
By a breakdown of the triangle I expect support in the green shaded area (around the 0.5 - 0.618 fib. There we will probably bounce before a deeper dive towards the falling wedge support around $7.
But we are also at very strong resistance (red line) from the long term falling wedge.
By a breakout we could expect the targets in the red shaded area. Since we break the falling wedge then as well we could expect even much higher prices (see post from yesterday).
By a breakdown of the triangle I expect support in the green shaded area (around the 0.5 - 0.618 fib. There we will probably bounce before a deeper dive towards the falling wedge support around $7.
Note
LINK on its way to our targets!
Related publications
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.
Related publications
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.