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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: Triple Corrective

Position: Wave Z

Direction Next higher Degrees: Wave ((II)) of Impulse

Wave Cancel invalid Level: 

Details:: Wave (II) is likely to retest at 6.882

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: 
The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback. Look for a resumption of the trend.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bullish Momentum.

Elliott Wave Analysis TradingLounge 4hr Chart

ChainLink/ U.S. dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triple Corrective

Position: Wave Z

Direction Next higher Degrees: Wave ((II)) of Impulse

Wave Cancel invalid Level: 

Details:: Wave (II) is likely to retest at 6.882

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback. Look for a resumption of the trend.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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