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LINKUSD

LINK aiming to retest $23LINKUSD is currently trading around $22.70, up 5.5%, above average when compared to BTC and most of the altcoin market. We have now completed what appears to be a nicely formed W pattern on the 1h/2h/4h charts. Forming since yesterday, it confirmed earlier today as the European markets opened several hours ago after retesting the $22, which aligns perfectly with the lower market support band (20w ema low). Our last major move was the rejection of the upper market resistance band at $28-$29 (FIB golden pocket & 20w ema high), followed by a failure to hold the the bull market bands (20w ema / 21w sma) as we came back for the retest. Let's look at the longer timeframes, measuring out probable direction using Fibonacci based Gann fanns. Market makers appear to want to retest $23 today, which would get us back over the critical 50h ema. If rejected there, we know we're in for at least a second retest of the $22 levels, but more likely even lower since a failure there would indicate the current W pattern has failed so market makers want to bring the price lower. If accepted and we push through $23 and hold through 2 or 3 4h candles, I believe we could see a continuation towards $24.50 - 25.50 range, for a retest of the bottom side of the bull market support bands about 10% higher from our current levels. No matter, I expect a retest of the $23 before we know with a high level of confidence that the current movements are supporting a larger move to push back through the key moving averages and re-initiate a sustained multi-week trend to the upside (ending the multi-week trend to the downside). If we don't come back for a retest now, trade carefully, it's possible this push is nothing more than market makers working to get better prices for a short play they'll execute sometime over the weekend or early next week. If we can continue to push higher, we might have a similar situation play out with the Bollinger Bands as we have seen in the past where once we touch the upper band, we continue to ride it closely, pushing it higher and higher for many consecutive (30+ days) before being squeezed back down. Summary: Major areas of resistance within immediate reach are at $26.5 (VPVR volume peaks / interest) and $28 (FIB golden pocket), which we must overcome and turn into support before we can move higher. On the downside, $22 has acted as strong support for the past week, which aligns with both the major areas of interest (VPVR) and a key moving average (lower support band, mentioned before). If we come back for a third test at $22, there is a high probability the market continues to favor shorts. A quick look at the Heikin-Ashi candles before I go... reminds us to not get too excited yet. We're still trending down... and the trend is our friend, until the end. Don't get liquidated folks! Make sure you've set your stop losses and buy-limits!
COINBASE:LINKUSD
by calmrat
Possible Head and shoulders *LONG* Keep an I on the possibility of this being an outcome for Chainlink. Even though it has been on a pure uptrend testing it's highs and lows and pushing forward. There is always another side to every success story. No matter what I believe, Chainlink will push through eventually. Keep an eye on resistance levels through the week. $27 specifically, if we find it causing resistance it is possible we can end back up we we are currently sitting at $22 - $22. 40 . Which in turn if this forms the infamous H&S , this may in turn push us further down to the $19- $17 range. Just hypothetical but possible. Good luck and Happy Tuesday!!
LLong
by Brother-Doug
$LINKUSD About to Breakout. GIANT Wedge FormationI have noticed a rotation in Crypto and stocks that has been occuring over the last several weeks from GROWTH to VALUE. $LINKUSD is one of those Value cryptos with the recent annoucnement of upcoming staking and limiting supply. Seems the Charts suggest a BIG Breakout is coming. GIANT WEDGE Formation shows price consolidating. When we see price consolidation some of the best trades can be placed because there is the biggest REWARD,....BUT you need to know direction. If you enter too soon without confirmation you may be left wiping your tears with your floor as you see an explosive move turn against you. Consolidations give some of the best trade opportunities but patience is needed to ensure direction. How I tell direction is consolidations is using a combination of EMA 39 and CMF (Chaikin Money Flow). I am NOT a huge proponent of Indicators except TIMING OF ENTRIES to a trade what Price Action signals. But sometimes we get mixed signals so I do rely on CMF (Money Flow) which tells us if people are putting $$ into ro pulling $$ out of markets. I have found the 3D charts to be the most reliable in crypto. FIRST, Price is above the EMA 39 and restesting the EMA 39 after breaking above as we come to the apex of the wedge. That suggests price will go HIGHER. SECOND, we have broken above Horizontal Support (Green Horizontal line) at $25.29. THIRD, notice that Money is Flowing INTO $LINK and that it is rising as well as above the ZERO line. A LOW Risk entry for me is to BUY at or just above EMA 39 Support (ENTRY = $25.76) with SL BELOW recent lows (< $22.18). I expect an UPSIDE Target Price of testing the ATH at $53.
KRAKEN:LINKUSDLong
by eganon69
10
Chainlink Bounce Coming!!?Another coin that i am looking to add more of is my favorite project.. Chainlink, we are coming down towards our 0.2 FIB level and we are given the chance to get a bullish bounce here. We have tons of support underneath of our price action with uptrend support coming in from our previous low, support at our current spot of 24.31$, 20.67$ support and we have strong support coming from the 0.2 FIB level. Looking at the bollinger bands we have more support coming in from our midline, we are currently sitting right above this point and it is important that we hold above and close above to keep this level as support. Also being above this level enables us to make a run for that top bollinger band, and as you all know if we can successfully make the run up to there and close ontop of this band we could be looking at a fast sharp move to the upside, more often than not closing ontop of this band triggers that big move to the upside! Now the MACD isn't looking super great we just had a bearish cross, this isn't 100% confirmed yet as price action could begin to push up and cause another bullish cross, or we could see a short bearish cross with a bullish reversal following soon after. What we don't want to see is a strong move from the MA's pointing down and separating, separation in the MA's makes it harder to trigger a bullish cross, when the ma's are compressed together one day of green price action can trigger a bullish cross, same thing applies when looking at the upside. Another thing we don't want to see is the histogram start to make significantly bigger red bars day after day, this shows an increase in the bearish momentum and can really accelerate the further we move into the bearish MACD cycle. Next very important we have the RSI, reason of why this is important is due to the RSI being directly on the midline, if we can see a bounce here and reversal back upwards we are looking at a very plausible confirmed uptrend and thats exactly what we want, if we break below here and get stuck unable to regain above here we are looking at a confirmed downtrend, so we gotta wait for our daily close tonight before we can confirm anything! Not financial advice just my opinion!
BINANCE:LINKUSDLong
by JacobR905
$28 LINK aims for goldMucking our way through the $24-26 range, we're doing well to get back above the market bands. Cushioned by low 18.75 support line. We have $22 general market support. Bull market bands -- 20w sma and 21w ema -- are at $25 and $26.75, with a high support at 29.50. Clearly we are trading sideways. With an nausea-enducingly wide range. $27 appears to be the VPVR point of control, in terms of volume traded between now and June 2021, which aligns with the bull market bands where we are trading for the last few days. We need to keep above 27, or it means the market makers will bring us back down, and have only used these recent days to load them with better short prices. We'll see. My suspicion (bias alert...hope, i'm fully longed at the moment in my own trades) that is we will move to the upside for a bit yet still. I'm happy to see that we closed the $25 levels. Some lost LINK and USDT along the way, i'm sure. But for those HODL'ers out there. This move's for you!
COINBASE:LINKUSDLong
by calmrat