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Chainlink (LINK) Price Analysis: Bearish Flag Pattern Suggests FLINK/USDT Technical Analysis Chainlink (LINK) is currently trading at $5.37, down 90% from its all-time high of $54. The cryptocurrency has been in a downtrend since the start of the year, and it is currently forming a bearish flag pattern. A bearish flag pattern is a continuation pattern that forms after a sharp move up or down. The flag is formed by a horizontal consolidation after the initial move, and it is typically followed by a move in the opposite direction of the initial move. In the case of LINK, the initial move was down, and the flag is currently forming. This suggests that the downtrend is likely to continue, and that LINK could fall to $2.85 or even $1.79. However, there is a potential for a bullish reversal if LINK can break above the resistance level of $6.70. If this happens, LINK could rally to $5.89, $18, or even $54. Key Levels Support: $2.85/₹1.79 Resistance: $5.89/$18/$54 Note: This is not financial advice. Do your own research before investing in any coins. Conclusion The technical analysis for LINK/USDT is bearish. The cryptocurrency is currently forming a bearish flag pattern, which suggests that the downtrend is likely to continue. However, there is a potential for a bullish reversal if LINK can break above the resistance level of $6.70.
Short
by CryptoPatel
1
LINK TO THE PASTHistorically Link has been brilliant to trade from a technicals perspective. You can see the prior consolidation channel and the 2 x Head and Shoulder patterns that played out beautifully. You can also see how the green circles were great entry levels At present we appear to be in a consolidation box awaiting breakout. I am leaning Long Term Long for the following reasons: - On Balance Volume is increasing - Break above 50 week MA - RSI pressing upwards - 90% correction in price since May 2021 (when we broke RSI resistance line, important to watch for this and exit trade if it occurs). - LINK/BTC is also in a downward channel and looks ready to break out - You will see from my recent BTC Dominance chart i believe we will have a slight pull back in dominance over coming weeks offering ETH and Alts an opportunity to make some gains - The prior patterns, the H&S, Parallel channel and subsequent H&S top, these all lasted between 52 and 72 weeks. We are in this current consolidation pattern almost 50 weeks. It is probable that we get a break out within 2 - 22 weeks. Trade Management (swing trade) - A retest of the 50 MA would be a reasonable entry. Bottom of the box event better. - Break below box, exit trade. - Trade timeline 2 - 22 weeks (explained above) - If already in the trade I would be keen to exit the trade once in oversold territory on the weekly RSI (We can always reenter it later). PUKA
COINBASE:LINKUSDLong
by PukaCharts
LINK long idea Listen up, in the world of crypto, Chainlink's the game, But before you go long, you gotta manage that risk, it's not a game. With LINKUSDT, a long idea in play, Channels, OBV, and Fibs to pave the way. Been in accumulation, for almost a year, But with potential targets in sight, don't you fear. TP1 at 7.4, TP2 at 8.40, TP3 at 8.8, TP4 at 9.48, so don't you get naughty. But with gains in sight, you gotta keep your SL in check, Below 5.75, to prevent losses and protect. So let's go long on LINKUSDT, With a strategic plan, and risk management to see. With channels, OBV, and Fibs to play, Potential profits, just a breakout away. But don't forget the SL, it's your safety net, To ensure gains, and no losses to fret. So let's ride the wave, and make it big, With LINKUSDT, and a plan that's strategic. Potential targets in sight, but risk management is key, For a successful trade, and a profit to decree.
Long
by DepecheGST
LINK /USDT Bullish Divergence,High Demand and Potential Bull Run💎 There is a bullish divergence in the MACD indicator. This discrepancy suggests a weakening of the downtrend momentum and a possible trend reversal. 💎 We have seen a break of structure following the previous downtrend. This break indicates a shift in market sentiment, potentially leading to a bullish phase. 💎The current price of LINK is situated within a high demand zone. The combination of bullish divergence in the MACD, a break of structure, and the presence of a high demand zone suggests an increased likelihood of an upward movement in the price of LINK. Disclaimer: This is Not Financial Advice ❗️ Trade at Your Own Risk ⚠️
Long
by MyCryptoParadise_Simon
2
✴️ Chainlink Classic Falling Wedge PatternAsk anybody or everybody around and they will all agree that the falling wedge is one of the most reliable patterns to spot on a chart. This is a bullish pattern and once you have it well mapped out, it is sure to play-out. On this LINKUSDT chart we have a falling wedge pattern already breaking bullish, so the breakout has already taken place. Yesterday we had a full green candle which by itself is a bullish signal but what is more interesting is todays candle, it has a long lower wick and is about to close green. This tells us that sellers did show up and tried to push prices down but the bulls bought everything back up. As the candle/session/day closes green we get two additional signals; The RSI closing above 50 and the break as resistance of EMA21 and EMA10. This is no surprise for us as we've been bullish all along... But having these signals on the chart, inspires me to open up a 10X long. The rest is for the market to decide... We will know how it went based on the results. Many the wins, only a few loss. Namaste.
Long
by AlanSantana
1
ChainLink End Of The RoadChainlink has posed a challenging cycle thus far, with an extended period of sideways accumulation for over a year. However, the time has now come for the asset to make a move. The Gann Fan indicator illustrates that there is limited room for further sideways action, with three rejections of the 1/2 Fan occurring in the last two years. If we do break out of this range, we must either move downwards or make a significant upward move, which will likely last until late June 2023. At this point, a move to the 1/1 Gann Fann level with 20 dollars as the maximum price increase seems the most plausible. Looking at the facts, the monthly histogram for LINK indicates a building momentum, with lighter closures suggesting a potential shift in trend. Additionally, LINK has experienced four straight months of weekly lower highs since the start of the year. My hypothesis is that we will reach a peak in June 2023, which lines up with the predictions for LINK based on the chart below: The USDT dominance chart has completed its 5 waves and ABC correction, with the final wave most likely to start next week once the yellow support level is broken Furthermore, the Bitcoin Dominance chart has also completed 5 waves and is currently experiencing a rejection of the 8/1 Gann Fan, indicating that alt season is likely on the horizon. If Link fails to break the 1/2 Gann Fann level to the upside, the downside target would be HKEX:5 , though this scenario has a lower chance of playing out at the moment.
COINBASE:LINKUSDLong
by Sporia
12
BIG DAY TOMORROW (BITCOIN BTC)Someone please tell me, "this time it's different." Come on, I dare you, lol. Tell me, who wants to rent my crystal ball? It's a mirror, literally a mirror, with comments going all the way back from that crystal ball TA that "this time it's different" because of the "macro environment." Haha, what garbage. We longed PICO bottom. For the traders who are not in denial, let's break it down. We've been following a Fib time sequence from 2019 that could play out like last cycle. 0.5 Fib time to 0.618 is the pocket where you get pivots in the market. As you can see, last cycle, 0.5 Fib time marked the reversal for the final wave of the relief rally. What are the chances that both last cycle and this cycle, 180 days out of the cycle low, we get both 0.5 Fib and symmetrical triangles? Tell me, what are the chances? Tell me, please, that "this time it's different," all the way up to 50k. Tomorrow is a big day. We either complete the mirrored pattern which at this moment, I believe there is a much higher chance we break to the upside or we begin a crashing structure back down to 15.5k. So, we nailed the two biggest moves of 2022, and my macro streak is still alive, the first macro prediction this year. 40-50k Bitcoin top for this year sometime late June to mid-August 2023. Invalidation would be weekly close under 0.382 Fan Fib.
COINBASE:BTCUSDLong
by Sporia
17
LINK - It is timeLink has been consolidating in the same tight zone for 330 days. After that long period of accumulation, I predict the move up will probably be large and sustained for at least 2-3 big legs up. The problem is that we've had 3 fake-outs where price closed above $8.5 and then dumped hard right after. With that in mind, I plan on buying the next time LINK closes above 8.5 and cutting my losses if I see it close back below the support/resistance (S/R) zone highlighted in red, meaning below $8. If the breakout is real, a I think and hope it is, then I intend to take profits between $19-20, and keeping the rest for the possibility that LINK becomes a beartime runner again, like last time.
BINANCE:LINKUSDLong
by fritzz
9