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Chainlinkusd

LINK dropped to its 50d MA $24.75 may be next.Summary The LINKUSD pair has dropped back to its 50 day Moving Average (ma). Currently the global market volatility is threatening further pull backs which will impact the cryptospace. Federal Reserve Chairman Jerome Powell got grilled by a WSJ journalists and did not reassure global markets that treasury bond interest rates are going to be controlled by quantitative easing. After the Volatility index just spiked to a local top I expect Big Money is buying the dip. Technical Analysis MA LINK has moved down to its 50d MA, most of the time with crypto, this is a pretty good entry during a bull run, which unless we drop below the 100d MA and then have significant trouble getting above it on BTC, I would say we are still decidedly bullish. That said LINK is not BTC so it may drop to its 100d MA, but a more likely scenario is it stops just short of it near $21 which is the bottom of its previous horizontal price channel which is roughly $21-25. Because we have no confirmation of reversal of the current down trend I still have to roll under my original thesis that we have a greater than 60% chance we drop to the next horizontal resistance zone of roughly $24.75 and if that falls $21. MACD and RSI The MACD crossover on the daily has been hit with a setback, and even if the trend switches back to the upside LINK will need a few more days to crossover unless a unreasonable force to the upside effects it. The RSI is now trnding lower, but isn't anywhere near over sold and is a relatively neutral signal. Fundemental Analysis There is a little blood in the streets, as the big 3 US stock indexs all had a bad day. This was triggered by bond yields spiking hard, and was exacerbated by a lack of reassurance from Jerome Powells that the Federal Reserve plans to address this through quantitative easing. As a result of falling equities and rising bond yields, and a run on dollars, there was a strong negative pressure on Crypto and global markets. Watch the VIX if it doesn't close above 28.80 by the end of next week I bet and will bet that Big Money is buying up this dip as everyone else is dumping off thier assest they paid too much for to begin with. Wait to see how the markets move from here, then ask how will this effect the crypto space. The longterm inflation that the market is projecting can only a good thing for crypto prices. I am still waiting to see what happens tomorrow and Monday and for a confirmation that LINK is bouncing by closing above $28 or a fall to $21 before I consider a larger position, but made a small entry at $26. One Last Thing Last remember that horizontal channels and moving averages are just aggregates of human psychology. Its easy to look at these as numbers and lines, but in reality the top of a new horizontal channel your in is where all the weak hands reside, and the bottom is where the last battle of wills took place, and a moving average is what people believed an assets was worth over time and likely will again. If you take this into account its easier to guess where a asset is going, because you likely understand humans better than charts. ☯️
COINBASE:LINKUSD
by Thomas_Brown
11
Chainlink currently in ideal Buy Zone 56% Gain back to ATHOn 4H Chart chain link has tested the 200 SMA and 50 SMA but there is no signal for a reversal in trend. This can only signify an explosive move back to the upside as the Stochastics are showing an extremely oversold market, further we expect the Bulls to come back in the market and for the previous push phase to continue. This buying zone at the 38.2% Fibs is a great entry to accumulate more Link at the current price level. 56% Gain back to ATH which we expect Link to test in the next 3-7 days.
KRAKEN:LINKUSDLong
by CryptocurrencyMagnet
CHAINLINK USDT BUY LONG IN 4 HOUR TRADEDirection LONG TL 26 TL 2: 26.5 Signal Rating 3/5 DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
Long
by Cryptopreneurpro
1