LINK/USDT Weekly Analysis - Potential W3 target @ $34
NOT FINANCIAL ADVICE
TL;DR Amazing weekly close last week, break above 200VWMA, potential W3 target @ $34
TL;DR Amazing weekly close last week, break above 200VWMA, potential W3 target @ $34
LINKUSDT just had an amazing week last week (+23%), with 50VWMA acting as support and a break above the 200VWMA.- If $12 was a local bottom, we could expect a W3 to the $34 area (1.618 fib of the last leg up). A HH above $23 would be a great confirmation.
- Should Elliot Waves keep playing out, we could expect a W3 retracement to the $23 - $25 area, followed by a W5 to the $40 - $50 area. Take this with a grain of salt as it's still very early and we will need confirmations. 🧂
- The Weekly RSI just got back above 50, leaving plenty of room for moves to the upside.
Note
Typo: "we could expect a W3 retracement" should have been "we could expect a W4 retracement".
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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.