LINKUSD Elliott Wave Analysis: TradingLounge Daily Chart,
ChainLink/ U.S. Dollar (LINKUSD) Daily Crypto Analysis
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next Higher Degrees: Wave (I) of Impulse
Wave Cancel Invalid Level: 8.498
Details: Wave C may be complete, suggesting the price could increase again in Wave A or I.
ChainLink/ U.S. Dollar (LINKUSD) Trading Strategy
The correction wave (II) seems to have ended. The price is now rising in wave (III), indicating a five-wave increase in the Impulse pattern. This is expected to keep the price above the 24.00 level.
ChainLink/ U.S. Dollar (LINKUSD) Technical Indicators
- MA200: The price is above the MA200, indicating an uptrend.
- Wave Oscillator: Shows bullish momentum.
LINKUSD Daily Chart Analysis
On the daily chart, LINKUSD is currently in Wave C of a Zigzag correction. The wave cancel invalid level is set at 8.498, meaning if the price drops below this level, the current wave count will be invalidated. However, given that Wave C may be complete, we expect the price to rise, transitioning into Wave A or I of a new impulse wave.
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: Zigzag
Position: Wave C
Direction Next Higher Degrees: Wave (I) of Impulse
Wave Cancel Invalid Level: 8.498
Details: Wave C may be complete, suggesting the price could increase again in Wave A or I.
ChainLink/ U.S. Dollar (LINKUSD) Trading Strategy
The correction wave (II) appears to have ended. The price is rising in wave (III), focusing on the five-wave increase in the Impulse pattern, which is likely to remain above the 24.00 level.
ChainLink/ U.S. Dollar (LINKUSD) Technical Indicators
LINKUSD H4 Chart Analysis
Similar to the daily chart, the H4 chart also shows LINKUSD in Wave C of a corrective Zigzag pattern. The price has been moving within this pattern, and the completion of Wave C hints at a potential reversal. As Wave (III) begins, traders should monitor the market closely for signs of continued upward movement, ensuring the price remains above critical support levels.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
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