LINKUSDT trading strategy
For the last six months, the LINKUSD price has been in a broad consolidation range of $5.5 - $9.5.
Fundamentally speaking, Chainlink was always on top of the Oracle category and has been accumulating for quite a long time now.
In our opinion, LINK will continue to consolidate in the range of 5.5-9.5 in the short term; and it can go up to 12$ or $18 in the mid to long term.
Two trading strategies can be applied here:
1. Trade the Sideway:
Swing traders can enter a LONG position at its local support of $5.5- $6 and enter SHORT at its local resistance of $9. I myself have made a limit order of buying LINK at $5.5. Hopefully, it will get filled.
2. Trade the Breakout:
For more precise decisions, traders can wait for a confirmed breakout of either side to enter a trade. This strategy will bring less profit but can give you a better chance at winning.
Choose a strategy suitable to your preferences and stick with it. Remember, always trade at your own risk, and never risk more than you can afford to lose.
Fundamentally speaking, Chainlink was always on top of the Oracle category and has been accumulating for quite a long time now.
In our opinion, LINK will continue to consolidate in the range of 5.5-9.5 in the short term; and it can go up to 12$ or $18 in the mid to long term.
Two trading strategies can be applied here:
1. Trade the Sideway:
Swing traders can enter a LONG position at its local support of $5.5- $6 and enter SHORT at its local resistance of $9. I myself have made a limit order of buying LINK at $5.5. Hopefully, it will get filled.
2. Trade the Breakout:
For more precise decisions, traders can wait for a confirmed breakout of either side to enter a trade. This strategy will bring less profit but can give you a better chance at winning.
Choose a strategy suitable to your preferences and stick with it. Remember, always trade at your own risk, and never risk more than you can afford to lose.
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Visit our website for more educational content.
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