LINK: Very Choppy C-Wave ($2.50 Bottom)The above waves show how we're monitoring Chainlink's long-term bear trend. We're looking to accumulate LINK below $3.00.
We also expect the current triangle formation to result in a break to the downside.
LINKUSD trade ideas
ChainlinkLINK/USDT dont touch my OB for Sell now im looking for new entry SHORT with 15min timeframe waitin for price to come at my supply zone and you can see in the Chart we have Strong Resistance Zone
LINK: recovery is still on holdAlthough LINK started the previous week in a positive manner, heading toward the upside, still the highest level reached was $7.1. Long term resistance line has not been tested on this occasion. By following general market sentiment, price soon reverted to the downside, to the level of $5.88. Coin is finishing the week testing the support line at $6, but without strength to break it further below.
Relative Strength Index is continuing sort of side moves during the last two weeks. The indicator is moving slowly between levels of 50 down to 40. It provides no indication that the market is ready for a move toward the overbought side. Moving averages of 50 and 200 days are continuing to move as two parallel lines, with MA50 currently slowing down its down trend.
Technical analysis is suggesting that LINK will continue to test the $6 support line in the coming period. There is currently no indication that this line might be broken to the downside. In case that support line is not broken, the coin will revert shortly to the upside and resistance line at $8. There are also no indications that the price might go above the current resistance line.
LINKUSD - Death Spiral FinishLINKUSD Can be seen to be moving perfectly along the Fibonacci circle , slowly but surely it is climbing out of this trend
Once price the long term uptrend an upward move should be expected
LINK MARIN(E)atedLink looks nicely marinated from the bear...
ORACLES
Oracles are data feeds that connect Ethereum to off-chain information
The oracle problem
Ethereum transactions cannot access off-chain data directly but using a centralised data source is suboptimal... hence the need for a decentralized oracle
Chainlink Off-Chain Reporting (Chainlink OCR)
1. off-chain oracle network communicates with each other
2. cryptographically signs responses
3. aggregates responses off-chain
4. sends one transaction on-chain with the result
This is gas efficient
Chainlink VRF
Chainlink Verifiable Random Function = tamper-proof random number generator for smart contracts
The LINK token
*based on the upgraded ERC-677 token, backwards compatible with ERC-20.
CHART
Bull div on daily
Local fork
Fib retracement
If market is going to bounce then so will this
NOT TARDING ADVICE
LINK/USDTChainlink with a falling wedge which is a reversal pattern and divergence in relative strength index.
LINK - accumulation bottomLINK is in a good position of accumulation before breakout in coming months.
Plant now harvest later :)
About to reach the targetWaiting quietly for the link to reach the target range
After reaching the target range, you can breathe low
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$LINK weekly log updateHere’s the latest on LINK. The blue inverted arc is still very much in control. I still think we test the $3 range before starting a new upward arc. The next major news event should come at the end of September with SmartCon, where Staking and/or CCIP is announced. That could be the trigger to get us through the blue arc.
Chainlink Price Analysis — June 29Chainlink continues to maintain a pass-and-play (choppy) momentum between the $7.3 resistance and $6 base. Currently, bears have initiated a push for the $6 base after a prolonged inability to take the $7.3 mark over the last weekend.
That said, we should expect a bullish rebound anywhere near the $6 mark, back to the $7.3 top, as the choppiness is expected to persist with the crypto winter. In an event of a bearish breakdown below the $6 mark, an extended dip below $5.3 (the broader range) seems significantly unlikely.
Meanwhile, my resistance levels are $7.3, $8.0, and $9.0, and my support levels are $6.0, $4.0, and $3.0.
Total Market Capitalization: $898.3 billion
Chainlink Market Capitalization: $2.97 billion
Chainlink Dominance: 0.33%
Market Rank: #22
Progress towards the goallink is at risk of further pullbacks
Wait until the purchase interval below to buy
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Chainlink's Desending Wedge Setup, will it shrug off macro woes?Will the major altcoins (ADA, LINK, UNI ) descending wedge setups, be the signal for a breakout to the upside?
Or will continuing macro woes make the TA analysis null and void.
Potential bounce might be coming over the next two weeks in equity markets. Spurred by the strong support at the 200 daily moving average.
Time to wait and see.
Inverted cup handle shapeThe neckline has been broken for an hour
There is a risk of a short-term pullback
But this wave of high probability will not make a new low
A callback to the lower range can buy low
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How low can LINK go (H&S target)I just wanted to share this head and shoulders pattern formed on the link/usd pair. I'm looking into buying LINK at this target level as a long term investment. Ofcourse , I'll also be looking at btc before buying, but chainlink at a price of $4 can't be all to bad right? Even if we would go lower? Feel free to drop your target bottoms of chainlink, so that I might get other perspectives of to why this wouldn't be a great buy.
LINK: postponed recoveryTwo weeks ago LINK reached its lowest level at $5.5 and started a short price reversal to the upside. However, moves to the upside were extremely shy, so LINK managed to reach its highest weekly level at $7.3. Long term resistance line at $8 has not been tested on this occasion. At this moment, it is more than evident that the market is lacking strength for clear recovery, due to the strong impact of macro-fundamentals. At this stage, stronger recovery is sort of postponed.
Relative Strength Index made its way from level of 45 up to 50, not providing an indication that market is ready for a road toward overbought territory. From the beginning of this year, moving averages of 50 and 200 days are moving like parallel lines with downtrend, without indication that cross might occur in the short future period.
Charts are showing that LINK has a potential for a recovery, but the market is lacking the strength for such a move. In this sense, a sort of stronger recovery could not be expected in the coming days. There is high probability for LINK to test a long term resistance line at $8, but at the same time it could revert shortly to the downside to test support line at $6.
ChainlinkLINK/USDT we are looking now for Long Signal On Chainlinke until our 1h Resistance Zone and our 1h Supply Zone
LINKUSD Dominant UptrendLINK has fallen quite a lot, just as other cryptos
The question is where will this falling stop.
I see a major trend line in Green which aligns well with another weaker uptrend in blue, and a downtrend in red
At this area price is around $5 per LINK
This is also at the 0.618 Fib level
LINK KEY LEVELSThere are numerous key levels on link and have currently taken resistance
Fundamentally the overall outlook on Link is positive with big brands such as dolce gabanna making use of Link technology
At the time of writing Link is $6.9 USD
Link is also down 89.40% (or 47.53 pips) from the high.
If we can hold at this key support level and form a base the opportunity of a lifetime could be in place - a potential 10X to the previous highs.
What is important to note is that both link and the Beta of crypto along with the world are trending lower, the biggest question before making this decision is whether you believe there will be mass adoption of crypto as a currency on the blockchain.
If you do think this will be the case, you should definitely look to start accumulating or preparing for a long position - particularly if we can see the decoupling from the world markets in the crypto space
8 Days left for the Chainlink Sequence! Its been a interesting May but not shocking in anyway , I have been covering this downtrend all year and talked about the crash in May 2022 months before.
Published January 2022
Published March 2022
How did I pinpoint May 2022 for this move? keep reading.
First lets go over the chart and possible move from here , so been playing around with this Gann Fan from the inception of Chainlink and its showing some nice confluence in some areas.
Last time Chainlink touched the 2/1 Gann Fann it was 2019 where it hovered over it for about 120 days before shooting off , One possible senario here is that we just go sideways over this Gann until the next Fib time date 3.618 3rd October 2022.
Even though Chainlink broke down from its decending wedge in price , the pattern is still playing out on the weekly RSI , check it out .
Last TA showing chainlink breaking down from decending wedge .
So now the most important part of the puzzle, why May 2022?
Back in 2019 there was a LINK/BTC dominance channel I use to trade and by testing out hundreds of Fib time seqeunces I found one that hits home runs the last 4 times.
Everytime we come to a date LINK has had a massive move to the upside will it happen again this time who knows? The date is 23rd May 2022 and April 24th 2024 is the one after when the next Bitcoin halving is which is very interesting.
In 6 hours the weekly candle closes and if the weekly candle of this dominance chart closes at this level it can techically confirm a decending wedge with two lower touch points.
Since the I believe we topped April 2022
and it normally takes bitcoin 406 days to capulate from a cycle top I came to the conclusion that the next Chainlink sequence in May 2022 was likely going to be some sort of bottom.
Chainlink has retraced 89% thats 1% more than the retrace in 2017 take a look.
There is only 8 days left until the next Fib date poeple and Chainlink just retraced 89%!
