LINK/USD is currently trading in a higher degree wave (4) correction and higher degree correction usually retrace at least back to the former wave 4, which points to 8-7 support zone, so don't be surprised if we are on the way to reach that strong support.

LINK/USD LOG Daily Elliott Wave Analysis Chart

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On the 4h Chart, LINK/USD remains under bearish pressure after a break out of wave B triangle. It looks like there's room for more weakness within wave C which should be completed by a five-wave cycle, so be aware of another leg down as wave »v« of C is still missing. In case of an earlier jump and recovery back to 30, then we will probably see a bigger flat in wave B labeled as Alternate count.

LINKUSD 4h Elliott Wave Analysis Chart

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