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LINKBULLUSD trade ideas

LINK: start of a short reversal?Prevailing selling orders from two weeks ago, just continued their trend in an environment of negative market sentiment. LINK started the previous week around $10 short term support line, and continued the bearish trend down to the level of $5.3. Since a clear oversold market has been reached, the coin started its short term reversal, finishing week at $7.2. RSI was moving the whole week in an oversold territory, where it also finished the week. This increases the probability that the coin will start a stronger reversal in the coming days. At the same time, the moving average of 50 days is slightly moving away from its 200-days counterpart, indicating that the golden cross is still on hold. Long term support line for LINK stands at $8. This line has been broken during the previous week, however, the coin is heading toward this level. Whether there will be strength for a move above this line will depend on buying orders on the market. In this case, LINK might try to reach the previous level of $10. On the opposite side, the level of $6 might be tested for one more time. COINBASE:LINKUSD
BITSTAMP:LINKUSD
by XBTFX
5
Chainlink long term perspective The blue line is Bitcoin from 2015-2019, you'll notice it's not exactly the same but very similar. A lot of people are in complete fear right now and I think this chart gives some perspective as to the current opportunity. If price action for LINK is anything like BTC, we should see an accumulation range for the next couple months before the start of a new bull trend. Granted it is slightly different with the Fed undergoing monetary tightening, but I still see chainlink as an extremely undervalued, highly utilized and intrinsic part of blockchain technology going forward. Don't fomo or run away from fear, this is most likely a time to be accumulating over the next several months.
BINANCE:LINKUSDLong
by kg_sol
4
LINK, Sometime simplest analysis works the best !Making complicated analysis does not make anyone a genius ! Sometime simplest analysis works the best ! This type of publications is not my ideal and usual one but everybody knows that following the trend is the base stone of every trade ! If we can not detect the direction of the market correctly we have no way but embracing painful losses !. LINK, when we look at weekly time frame, has clearly broken up trend support line, made a pull back and resumed it's down side move. I am not going to reveal my down side target for Link in this publication since this idea is not about relation of waves and target analysis. It is just to remind that " Trend is our best friend " in the market. Good luck everyone.
COINBASE:LINKUSD
by SaeedSajedi
6
LINK at Crucial Support. What to do!LINK broke $10 important support in relatively high volume. Entire crypto market is in panic, a beautiful indication that we are approaching the bottom. • To begin the uptrend LINK needs to regain, in a short period of time, $10 level. • I don’t suggest to short LINK now, cause it’s already near to a bottom. It’s wise to wait for a break and test $7.50 as resistance before taking a short. • You can add some LINK in your HODL portfolio at $7.50 only if you are intent on holding them, even if it goes below $4.90. Stay out of leveraged trading, market is too risky and volatile. Thanks for reading this! Remember investing is a probability game. Not a financial advice. Always do your own research. Follow for more reports & press the like button if you like this.
KRAKEN:LINKUSD
by Rhaonnor
Chainlink Price Analysis — May 4As mentioned earlier, Chainlink has fallen to its lowest point in over 17 months, as the DeFi giant slumped below the $11.00 mark. After a sideways open to the week, LINK now appears to be gaining some upward traction, as it tapped the $11.50 top for the first time in four days. That said, the broader market sentiment has received a mild boost over the hours as traders hold ahead of the much-anticipated US Fed interest rate decision, dropping later today. LINK will remain in a bearish bias until we record a break into the pivot zone at $15, which also houses the daily 100 EMA. Meanwhile, my resistance levels are at $12.00, $15.00, and $17.50, and my support levels are at $11.00, $10,00, and $8.00. Total Market Capitalization: $1.76 trillion Chainlink Market Capitalization: $5.3 billion Chainlink Dominance: 0.30% Market Rank: #25
BITTREX:LINKUSD
by Mr_Wogbe_Alex
ChainLink Analysis - Is A Breakdown To $5 Imminent?Hello Trader, here is my analysis for LINKUSD. Link has potential, it's not nearly as bad as FTM or ADA which we looked at recently. In fact this year I've taken a few long positions at Major Support levels, knowing that a bounce was likely. The problem is I am extremely Bearish on Bitcoin at the moment and as we know Alts will follow. Despite Bearish price action, Rip your face off rallies still occur during a bear cycle. This is when we look to enter long positions! Before I even start... LINK will continue to have Bearish price action until it breaks out of the falling wedge. You'll most likely know when LINK has hit its bottom because it will break the formation to the upside signaling a reversal. How do we predict where the bounces will occur? - Typically bounces occur at Key/Major support levels. - There are other factors that come into play such as time counts, how quickly it hits the level, any consolidation before hitting the level, etc. - But just to keep it simple, we want to look for key support levels to take longs. But if Alts follow BTC and we enter a position in LINK at a key support level, how do we know it will bounce? Can't BTC bring it down? - The key here is to try and align the major Support and Resistance levels of whatever Alt you're trading with BTC. - So if it looks like BTC is about to hit a key support level and so is LINK, then chances are they will both bounce since they hit the levels at the same time. - On the reverse, if BTC is about to hit a major level but LINK is not, BTC can bounce but LINK might not. ***Perfect example is right now LINK is not at a key support level, while Alts like Avax and Matic are. Both go great bounces along with BTC while LINK not so much. So where is LINK headed? - As you can clearly see LINK has been trending down in a falling wedge formation. - Yes this is technically Bullish, but LINK could continue to trade between it for months before breaking out. - Until Link breaks out of the formation, it will continue to act as support & Resistance. - You could always short at the top and long at the bottom of the formation. - The key support levels are listed on the chart, as long as BTC keeps trending down, LINK will follow. - Each time a Key Support level is broken, that confirms downside continuation and the target is the next support level. - $7.12 is a Major support level, there is a high probability LINK gets a bounce there especially if it comes down straight into it over the coming month without much consolidation. How low can LINK go? - IMO I believe LINK will hit $5 in the coming months, it's even possible it goes lower. But for now I think $5 will be the low. - Link will gets bounces along the way but until it breaks the formation to the upside, I personally would not enter a long term position. What about the short term? - The next target for LINK is $10, it may get a bounce being as it's a psychological level. But I think when it retraces it will break quite easy and continue lower. - Then $7.12 where I would be expecting a larger size bounce, especially since it's been trending down for nearly a month. Thanks everyone and best of luck trading!
KRAKEN:LINKUSD
by natef1
7