LINK/USD (LINKUSD) Elliott Wave Analysis - TradingLounge Daily Chart
LINKUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Next Higher Degree Direction: Wave I of Impulse
Wave Cancel Invalid Level: $17.88
Details:
Wave (5) is projected to target $39.29, derived from the Fibonacci 1.618 extension of preceding waves. This aligns with Elliott Wave Theory's expectations for Wave V, signifying the potential for a continued bullish trend.
LINK/USD Trading Strategy
LINK/USD has entered Wave (5), maintaining its bullish trajectory. As long as prices stay above the critical support level, a break of the $30.978 resistance could establish a stronger, long-term uptrend. Traders are advised to observe wave structures and price levels carefully for strategy adjustments.
Trading Strategies:
- Support Level Confirmation: If Ethereum sustains support at $2,899.73 and shows signs of reversal, Wave II may be confirmed as completed.
- Entry Opportunity: Consider entering within the $22.617–$21.508 correction range after confirming a reversal signal.
- Profit Targets: Set a short-term target at $30,000 and a long-term target at $39,290.
- Stop Loss Placement: Place Stop Loss below $20.358 to safeguard against wave structure invalidation.
LINK/USD (LINKUSD) Elliott Wave Analysis - TradingLounge H4 Chart
LINKUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (2)
Next Higher Degree Direction: Wave ((5))
Wave Cancel Invalid Level: Not specified
Details:
A confirmed breakout above $26.40 signals the start of Wave (3) within Wave ((5)), supporting a continued bullish trend for LINK/USD.
LINK/USD Trading Strategy
LINK/USD remains in the formative phase of Wave (5) with strong upward momentum. If the price holds above the key support level and exceeds the $30.978 resistance, the uptrend is expected to sustain. Monitoring wave structures and critical price points is crucial for effective strategy refinement.
Trading Strategies:
- Support and Reversal Confirmation: If Ethereum maintains support at $2,899.73 and reverses, this confirms Wave II has ended.
- Buying Range: Enter the market within the correction range of $22.617–$21.508 after observing a clear reversal signal.
- Profit Targets: Short-term target at $30,000, with a long-term target of $39,290.
- Stop Loss Placement: To minimize risk, position your Stop Loss below $20.358, protecting against unexpected wave changes.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
Previous: ETHUSD Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
