Elliott Wave Technical Analysis: Chainlink Crypto Price News For Thursday, May 30

Blockchain, Bitcoin, Cryptocurrency, Exchange, Virtual

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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). So 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 is a 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)Trading Strategy:
It looks like the correction wave (II) is over and the price is rising in wave (III).So 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 is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com