Elliott Wave Technical Analysis: ChainLink Crypto Price News For Friday, May 24

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Elliott Wave Analysis TradingLounge Daily Chart
ChainLink/ U.S. dollar(LINKUSD)
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 and the price increase again in Wave A or I.

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
It looks like the correction wave (II) is over, and the price is rising in wave (III). We will focus on the five-wave increase in the Impulse pattern, which is likely to stay above the 24.00 level.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Elliott Wave Analysis TradingLounge H4 Chart
ChainLink/ U.S. dollar(LINKUSD)
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 and the price increase again in Wave A or I.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com