LINKUSD Elliott Wave Analysis – TradingLounge Day Chart
ChainLink/ U.S. dollar (LINKUSD) Day Chart Analysis
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triple Corrective
Position: Wave Z
Direction Next Higher Degrees: Wave ((II)) of Impulse
Wave Cancel Invalid Level: N/A
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 complete. Current analysis suggests a decline toward the 6.882 level. However, this movement is considered a short-term pullback. Traders should anticipate a resumption of the uptrend following this correction.
ChainLink/ U.S. Dollar (LINKUSD) Technical Indicators
- The price is currently trading below the MA200, signaling a downtrend.
- The Wave Oscillator indicates bullish momentum, suggesting potential upward movement after the correction phase.
ChainLink/ U.S. Dollar (LINKUSD) TradingLounge 4-Hour Chart
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triple Corrective
Position: Wave Z
Direction Next Higher Degrees: Wave ((II)) of Impulse
Wave Cancel Invalid Level: N/A
Details: Wave (II) is expected to retest the 6.882 level.
ChainLink/ U.S. Dollar (LINKUSD) Trading Strategy
The corrective phase in Wave ((2)) appears ongoing, with a likely decline toward 6.882. This downward movement is considered a short-term pullback, and traders should watch for a return to the prevailing uptrend after this correction.
ChainLink/ U.S. Dollar (LINKUSD) Technical Indicators
- The price is below the MA200, indicating a bearish trend.
- The Wave Oscillator shows bullish momentum, suggesting the potential for a rebound after the corrective wave concludes.
Technical Analyst: Kittiampon Somboonsod
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