Link/ U.S. dollar (LINKUSD) Trading Strategy: Wave (4) ended at 17.837 (61.8% Fibonacci level) with a bounce to Wave (5). Positive Oscillator: Indicates strong uptrend momentum. Wave (5) 1.618 Fibonacci Extension level target is around 39.290.

Main outlook

Bullish Scenario: If the price holds above 24.759, it is recommended to target 30.978 or 39.290.
Bearish Scenario: If the price breaks below 17.837, it may test the support at 15.918.

LINK/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((5)).

Direction next higher degrees: Wave I of Impulse.

Details: Price is developing in Wave 5 of a large bullish structure.

Link/ U.S. dollar (LINK/USD) Trading Strategy: Wave (4) ended at 17.837 (61.8% Fibonacci level) with a bounce to Wave (5). Positive Oscillator: Indicates strong uptrend momentum. Wave (5) 1.618 Fibonacci Extension level target is around 39.290.

Main outlook

Bullish Scenario: If the price holds above 24.759, it is recommended to target 30.978 or 39.290.
Bearish Scenario: If the price breaks below 17.837, it may test the support at 15.918.

Chainlink Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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LINK/USD Elliott Wave technical analysis

Main outlook

LINK/USD Elliott Wave technical analysis

Main outlook

Chainlink Elliott Wave technical analysis [Video]

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