ChainLink Is Unfolding A Five-Wave Impulse

Gregor Horvat
Gregor Horvat
Forex Technical Analyst •

ChainLink's impressive recovery in the second half of 2023 looks like an impulsive five-wave rally with room for more upside after a correction.

Chainlink Cryptocurrency Symbol Cryptocurrency Coin Illustration — Stock Photo, Image

Image Source: DepositPhotos

Cryptocurrency ChainLink made an impressive recovery in the second half of 2023, which looks like an impulsive five-wave rally with room for more upside after a correction. Despite recent slow down in the Crypto market, LINKUSD is still holding well and it can be still unfolding a five-wave impulse. Currently we see it trading in wave (4) correction that can retest 12-10 support area. If stays sideways and above 12 level, then it can be also forming a bullish triangle pattern in wave (4) before a continuation higher for wave (5).

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