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: Triple Corrective
Position: Wave Z
Direction of Next Higher Degree: Wave ((II)) of Impulse
Wave Cancelation Level: Not Specified
Details: Wave (II) is expected to retest the 6.882 level.
ChainLink/ U.S. dollar (LINKUSD) Trading Strategy:
The ongoing correction in Wave ((2)) is not yet complete. Focus remains on the expected decline in Wave ((2)), with a likely retest of the 6.882 level. This is considered a short-term pullback, and traders should anticipate a potential resumption of the upward trend following the correction.
ChainLink/ U.S. dollar (LINKUSD) Technical Indicators:
- Price is below the MA200, signaling a downtrend.
- The Wave Oscillator shows Bullish Momentum.
ChainLink/ U.S. dollar (LINKUSD) 4-Hour Chart Analysis
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triple Corrective
Position: Wave Z
Direction of Next Higher Degree: Wave ((II)) of Impulse
Wave Cancelation Level: Not Specified
Details: Wave (II) is expected to retest the 6.882 level.
ChainLink/ U.S. dollar (LINKUSD) Trading Strategy:
The correction in Wave ((2)) appears incomplete. Focus is on the decline towards the 6.882 level, which is expected to be a short-term pullback before the trend resumes its upward trajectory.
ChainLink/ U.S. dollar (LINKUSD) Technical Indicators:
- Price remains below the MA200, confirming a downtrend.
- The Wave Oscillator indicates Bullish Momentum.
Technical Analyst: Kittiampon Somboonsod
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