Altcoins ICXUSD & LINKUSD Elliott Wave Analysis

  • ICXUSD unfolds running triangle
  • ICXUSD can retest 0.50 – 0.40 support area
  • LINKUSD price may face another sell-off

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ICXUSD. Well, despite recent bigger intraday recovery, the wave structure still looks corrective, ideally as part of a bigger bearish running triangle within wave "iv", similar as on other major cryptocurrencies. So, still be aware of a retest of the lows and 0.50 - 0.40 support area  for wave "v" of C before a bullish reversal (ICX-X).

ICXUSD 4h Elliott Wave Analysis Chart

ICX Elliott wave

LINKUSD (LINK-X) made strong intraday recovery from the lows, but we still see an unfinished A-B-C correction, as strong support at 8-7 area is still open. So, we believe that current rally is just as part of wave B correction that can be either a running triangle if stays sideways or maybe even flat if we see a jump up to 30-40 area. In both cases be aware of another sell-off for wave C towards projected 8-7 zone.

LINKUSD 4h Elliott Wave Analysis Chart

LINK Elliott Wave Analysis

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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