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Elliott Wave Analysis TradingLounge Daily Chart, 06 March 2023. 

Chainlink / U.S. Dollar (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: Wave ((2)) of Motive

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid Level: 5.386

Chainlink / U.S. Dollar (LINKUSD) Trading Strategy: Chainlink recovered well from 5.386, and tested resistance at MA200 but could not pass. back down again But even so, we believe it's a short-term reversal of the second wave. And when the second wave will not reverse below the start of the first wave. Therefore, we should wait for the second wave to finish in order to join the trend again in the third wave.

Chainlink / U.S. Dollar (LINKUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 06 March 2023.  

Chainlink / U.S. Dollar (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: Wave ((2)) of Motive

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid Level: 5.386

Chainlink / U.S. Dollar (LINKUSD) Trading Strategy: Chainlink recovered well from 5.386, and tested resistance at MA200 but could not pass. back down again But even so, we believe it's a short-term reversal of the second wave. And when the second wave will not reverse below the start of the first wave. Therefore, we should wait for the second wave to finish in order to join the trend again in the third wave.

Chainlink / U.S. Dollar (LINKUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

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