LINKUSD Elliott Wave Analysis - TradingLounge Daily Chart
ChainLink/U.S. Dollar (LINKUSD) Daily Chart Analysis
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree: Wave ((II)) of Impulse
Wave Invalid Level: 8.498
Details: Wave (II) appears to have concluded, with prices likely resuming the uptrend.
ChainLink/U.S. Dollar (LINKUSD) Trading Strategy:
ChainLink remains in a corrective phase. Currently positioned in Wave (II) with a double corrective structure, a short-term pullback is anticipated before the upward movement in Wave (III) continues. Traders should wait for the correction to complete before re-entering the uptrend.
ChainLink/U.S. Dollar (LINKUSD) Technical Indicators:
- The price is trading below the MA200, indicating a persistent downtrend.
- The Wave Oscillator reflects bearish momentum.
LINKUSD Elliott Wave Analysis - TradingLounge H4 Chart
ChainLink/U.S. Dollar (LINKUSD) 4-Hour Chart Analysis
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree: Wave ((II)) of Impulse
Wave Invalid Level: 8.498
Details: Wave (II) seems to have been completed, with prices showing signs of resuming the uptrend.
ChainLink/U.S. Dollar (LINKUSD) Trading Strategy:
ChainLink is still undergoing a correction. Positioned within Wave (II) and exhibiting a double corrective pattern, a short-term pullback is expected before the price resumes its rise in Wave (III). Traders should be patient, waiting for the correction to end before rejoining the uptrend.
ChainLink/U.S. Dollar (LINKUSD) Technical Indicators:
- The price is currently below the MA200, indicating a downtrend.
- The Wave Oscillator is signaling bearish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
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