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LINK

Link 20% Up or 10% Down?After a nice pump on bullish news for link it is setting itself up for another nice move to the upside if a bullish flag forms and brakes to the upside. Fundementally the news of cross chain liquidity pools is in the works and has buyers bullish. There is also a fairly nice fair value gap below that corresponds with the current uptrend and golden pocket retrace area. If BTC fails to hold its current levels many alts will also typically follow suit. While there could always be a fake out which ever direction the consolidation brakes is typically the direction it continues to go.
by Degen-Dynasty
Shorting LINK: Overbought Conditions, TBO, and Fibonacci LinesIn this trading idea, we will explore the potential shorting opportunity for LINK/USDT, driven by recent news-induced overbought conditions and strong over-extension from the TBO Fast Line. The confluence of factors, including resistance at previous TBO Resistance lines and the 0.236 Fibonacci level, presents a compelling trade setup. Reasons we are looking to Short LINK/USDT: 1) Overbought Conditions: Recent news and hype have driven LINK to an extremely overbought state. Such excessive buying activity may lead to a price correction, providing an attractive opportunity for short positions. 2) Over-Extended from TBO Fast Line: The current green TBO Fast Line at 6.857 indicates LINK's significant deviation from its average price movement. Historically, such deviations tend to revert to the mean, potentially presenting a favorable shorting scenario. 3) Strong Resistance at Previous TBO Resistance Lines: LINK's price surge encountered strong resistance at previous TBO Resistance lines. These levels have proven influential in the past and may act as formidable barriers for further price advancement. 4) Fibonacci Resistance: The price of LINK has reached the 0.236 Fibonacci retracement level, which often serves as a significant resistance zone. Traders typically consider this level as a crucial point for potential reversals. Shorting Strategy: With a well-defined shorting strategy, we aim to secure approximately 15% profit while maintaining a 4:1 profit-to-loss ratio. Trade Plan: - Entry: Initiate the short position from the current price levels. - Take Profit: Target a 15% profit from the entry point. - Stop Loss: Set a stop loss just above the 0.236 Fibonacci level of 8.408 - Time Frame: We expect the trade to close within a week. Risk Management: As with any trade, risk management is paramount. By adhering to a predefined stop loss level, potential losses can be minimized in the event of an unexpected price surge. Conclusion: In conclusion, the current overbought conditions, significant over-extension from the TBO Fast Line, strong resistance at previous TBO Resistance lines, and the 0.236 Fibonacci resistance level all point to a potential shorting opportunity for LINK/USDT. Implementing a well-structured shorting strategy and prudent risk management will enhance the likelihood of achieving the desired profit targets. As always, exercise caution and remain vigilant throughout the trade execution. Happy trading! (Note: The trading plan and risk management mentioned above are for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.)
Short
by thebettertraders
Breakout: #ChainLink's Decisive Move and Its Implications💎 For over a year, #ChainLink has been range trading, but this changed in the last week. #LINKUSDT experienced a decisive break and close below the $5.5 support area. From a technical perspective, this could be seen as confirmation of the downtrend. However, we must consider the year-long price action before drawing conclusions. It is prudent to wait for the monthly closing price, as it might confirm or negate the continuation of the downtrend. 💎 Currently, #LINK has successfully triggered most of the stop losses of high leverage buyers, leading to increased buying liquidity. As a result, we could witness a rapid price growth before the monthly close. A potential pullback may occur, causing the price to encounter multiple resistance areas as indicated on our chart. 💎 While there is a certain probability that #ChainLink has bottomed out, it is important to note that we are still far from a strong confirmation of a bullish trend. The Paradise Team will closely monitor the price action and keep you informed about any significant developments.
Long
by MyCryptoParadise
4
LINKUSD: Strongest day of the year testing the Channel's top.LINKUSD is having the strongest 1D candle of the year, turning the 1D time-frame technically overbought (RSI = 73.130, MACD = 0.370, ADX = 25.207). This rise may have taken the price above both the 1D MA50 and 1D MA200 but just hit the top of the 8 month Channel Down. Technically that is a sell signal, targeting the bottom of the High Variance Belt (TP = 7.000). If the price crosses above the top of the Channel Down and invalidates it, we won't go long just yet, but rather wait for R1 (8.8000) to break and then buy aiming at R2 (TP = 9.65000). A weekly closing over the R2, justifies a long term hold position on LINK. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:LINKUSD
by InvestingScope
3
Seasonal Crypt Growth with Powerful Positive SignalsTo date, we have come to another opportunity for market growth. The second half of the year, after an intense struggle, opened above 1900, which gives support and opportunities for 2250-2500 test attempts. The continuation of the trend in a row from the first numbers was disrupted by the drawdown of the euro, which I warned about, because quite strong pullback signals were left. However, this movement was only a pullback, after which the dollar continued to fall. Until the end of the month, I think the crypt will continue to adjust to the position of the euro with large bullish monthly candlesticks, which is already observed for xlm xrp sol and individual ixanuvshiy alt. The main positive factor will be the consolidation of the euro above the key level of 1.125, which will give a signal to fix the bullish trend. Investments in alts are still rather sluggish due to the lack of a clear continuation of the trend in the tops and the foreign exchange market. However, there are more and more reasons for bullying. The drawdown of the dollar gives the green light to the crypt. Against this background, the ether opened the second half of the month above the opening of the monthly candle, which increases the probability of purchases by the end of the month on candle models with targets at 2250-2500. Due to these factors, we observed a significant increase in purchases from the move right before the opening of the second half of the month, which showed a strong increase in buyers for this period. Also, July – August are seasonally a powerful period of growth. Basically, bitcoin is slowing us down so far, which opened the second half of the month less positively. However, we are still confidently holding 30k. The half-year is also open above. At the moment, the growth of coins is due to the distribution of funds from the cue ball for other projects. I have pointed out this prospect in many recent reviews, in particular, I expect a further decrease in the dominance of the cue ball with goals by 40-45% under an optimistic scenario. That is, even with a long flat, the cue ball will lose most of the coins. In particular, in my opinion, the probability of going to 0.10-15 of the eth/btc pair prevails. And so we opened the half-year, the month and the second half of the month well on the air, and therefore there are high chances to see an influx of buyers from the second half of this week to the middle of August under an optimistic scenario. Negative factors can only be the collapse of the euro below 1.1, which is now possible only at the end of the month, and the collapse of the cue ball to 25-27.5 against this background. The probability of sales has dropped to 35-45% so far in my opinion. But since sales are possible only at the end of the month, this week is quite safe for topping up with possible breakdowns on individual coins. So far, in my opinion, uft perl vib cvp pros have the greatest potential, which can show growth up to 3-5X. Also, wtc for dock ooki oax vite front epx burger amb has a potential of up to 150-200% from current levels. Fida drep hard wing returned to powerful supports, which can show good rebounds. Among the low-liquid assets, asr atm torn and pnt with a potential of up to 3-5X remain the most interesting. For scalping with a potential of up to 50-70%, om snm pivx voxel df chess looks good. Among the strong projects at interesting levels are vidt and gft, which are suitable for more reliable investments in medium-sized.
BITSTAMP:ETHUSDLong
by Strateg_
Resistance and Support Levels in FocusThe initial significant level of resistance lies in the vicinity of $7.342. A definitive breakthrough above this threshold has the potential to initiate a fresh upward movement towards the $7.500 and $7.893 levels. Subsequently, the next prominent resistance level emerges around $8.000, surpassing which the price may revisit $8.800. In the event that Chainlink's price fails to surpass the resistance level at $7.342, a downward correction could be anticipated. The first support level on the downside is approximately $6.90. Furthermore, the subsequent major support level is situated near $6.650, accompanied by the trend line zone. Breaching this level would likely prompt the price to test the $6.445 level. Further losses could potentially drive the price towards the $6.029 level in the short term.
by MonoCoinSignal
6
LINK - support and resistance level defined by SmartBotHello, Community! Let's continue analyze altcoins using the SmartBot algorithm. While Bitcoin is staying at the same price and it's trading is so boring and not a profitable, BIST:LINK is showing us some interesting opportunities. If we set up the strategy start period at the beginning of July we can see that SmartBot has created the previous base and defined the strong support levels in case of breakdown, but price continues sideways. As a result algorithm created the new base which has been already broken. We can see that the strategy has already filled two buy orders at the first and second entry levels. Let's notice that the price showed some reaction on these levels, it means that the price respects this strategy. If the LINK price will continue sideways the current strong resistance and the exit level is defined by the green line with the price $6.61. If the negative scenario activates SmartBot is gonna be able to DCA the current position at the support 1 and 2 levels, prices $5.96 and $5.42. This automated strategy has been created with the assumption that price movements are unpredictable. It absolutely does not matter which side the price will choose, strategy is gonna do it's work perfectly. Now Skyrexio team is working on the another one automated strategy, soon you will see the market analysis using all our developments. Best regards, Skyrex team ___________________________________________________ 🔥Follow and smash the rocket 🚀 button to support us🔥
by Skyrexio
LINK: Approaching ResistanceChainLink (LINK) technical analysis: Trade setup : Trends are improving. Price has bounced up from oversold levels (RSI < 30) near $5.00 support zone and above $6.00 resistance. However, it needs to break above 200-day moving average (~$6.70) to confirm trend reversal. Trend : Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish but inflecting . MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $6.00 (previous resistance) then $5.50 and $5.00. The nearest Resistance Zone is ~$6.70 (200-day moving average), then $8.50.
Long
by altFINS
2
Bearish sideways range continues Since June2022 chainlink is in accumulation bearish zone. The Resistance(S.Chart) has been tested 5 times, where the sellers pushed down the market,with increased bearish volumes. A break down oof the channel has more probablitiy as the bearish volume in the southern areas is increasing(I have marked them for you with red arrows) The market collapsed after the gap down on may2022. A break above 8,50 can push chainlink to higher area with the first target to fill the gap.(S. green arrows) and Bullish scenario. A Break down of the channel could continue to below 1$(See Bearish target 0,28-0,40). The bullish outlook will be invalidated upon a decisive daily candlestick close below $5.73 An increase in buying pressure from the current level could see LINK shatter above the $6.96 resistance level, flipping all the key EMA resistance levels into support and using them to jump off base to target new highs. In such a case, a crucial supply zone presents an opportunity for LINK holders to sell at a premium value. A supply zone trading strategy uses the price returning to the highlighted zone as an exit criterion. As such, traders should watch for a retest of the zone marked in blue to sell their LINK holdings. It marks the distribution phase of Wykoff’s classic schematic of market action characterized by accumulation, distribution, and redistribution spaces. According to Wykoff, these phases are the handiwork of ‘whales’ and big institutions like smart money hedging their funds in the market. Once Chainlink price tags the supply zone, investors should expect a pullback, making time an important factor in avoiding the load-shedding exercise. The recommended stop-loss level where traders and investors can lock in profits while avoiding any losses is the lower boundary of the supply zone at around $8.17. Such a moe would constitute a 30% rise from the current level. On the other hand, an increase and sustained bullish momentum could turn what now presents as a supply zone into a breaker, providing an opportunity for Chainlink price to ascend and collect liquidity above the November highs of around $9.00.
CAPITALCOM:LINKUSDShort
by DaveBrascoFX
1
LINKUSDT.1DHello Crypto Lovers, This is a 1D frame analysis for LINKUSDT As you can see, the price has been able to move above its support line and we expect the price to form an inverted cup and handle pattern and after completing the handle, it can bring itself to the first resistance zone. However, if it drops below the first support line completely, we expect a further drop, which will remain in effect until it moves above the first support line. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Take care
Long
by MarsSignals
3