TradingLounge Elliott Wave Analysis for ChainLink (LINKUSD)

Daily Chart Analysis for LINKUSD

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Next Higher Degrees: Wave (I) of Impulse

Wave Cancel Invalid Level: 8.498

Details: Wave C may be complete, suggesting a potential price increase in Wave A or I.

Trading Strategy for ChainLink/USD (LINKUSD)

The correction wave (II) appears to be over, indicating a price rise in wave (III). Focus on the five-wave increase in the Impulse pattern, which is expected to stay above the 24.00 level.

Technical Indicators for LINKUSD

The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Daily Chart Analysis Highlights

On the daily chart, LINKUSD is in a counter-trend corrective phase, currently in Wave C of a Zigzag pattern. The key level to watch is 8.498. If the price remains above this level, it indicates that Wave C may be complete, suggesting a potential rise in Wave A or I.

LINKUSD-1D-Crypto-Ch...

 


 

LINKUSD Elliott Wave Analysis TradingLounge H4 Chart,

H4 Chart Analysis for LINKUSD

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Next Higher Degrees: Wave (I) of Impulse

Wave Cancel Invalid Level: 8.498

Details: Wave C may be complete, suggesting a potential price increase in Wave A or I.

Trading Strategy for ChainLink/USD (LINKUSD)

The correction wave (II) appears to be over, indicating a price rise in wave (III). Focus on the five-wave increase in the Impulse pattern, which is expected to stay above the 24.00 level.

Technical Indicators for LINKUSD

The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

H4 Chart Analysis Highlights

The H4 chart reinforces the daily chart analysis. The corrective wave (II) appears to be complete, signaling the start of wave (III). This is an impulsive wave, typically characterized by strong upward momentum. The target for this wave is above the 24.00 level, indicating a significant upside potential.

Technical Analyst:  Kittiampon Somboonsod

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LINKUSD-4Hr-Crypto-C...

Conclusion: Optimizing Your Trading Approach with Elliott Wave Analysis

Elliott Wave Analysis provides valuable insights into market trends, helping traders make informed decisions. For ChainLink (LINKUSD), the analysis indicates a potential bullish phase, with key levels and indicators supporting this view. By focusing on the identified patterns and maintaining disciplined risk management, traders can optimize their trading strategies.

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