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LINKUSD Elliott Wave Technical Analysis (Daily Chart)

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave 2
• Invalidation Level: Not defined

Chainlink Trading Strategy:
In the previous wave I, the price formed an Expanded Diagonal pattern, peaking at $17.97. The retracement wave II formed a Double Zigzag structure, touching the 0.786 Fibonacci retracement level at $11.43.
Now, the price is bouncing back in wave (1) and may currently be in a retracement phase with wave (2) before entering an uptrend in wave (3).
The critical resistance lies around $16.00, which serves as the Bullish Confirmation Level. A break above this level could validate a mid-term upward movement.

Trading Strategy Highlights:
✅ Swing Trading (Short-term):

• Wait for the completion of the wave (2) consolidation.
• Look to enter during wave (3), which could have increased momentum.

🟥 Risk Management:

• Watch the Invalidation Level near $10.80 to manage downside risk.

LINKUSD Elliott Wave Technical Analysis (4-Hour Chart)

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave 2
• Invalidation Level: Not defined

Overview:
Same as the Daily Chart – wave I topped at $17.97, wave II ended at $11.43 after a Double Zigzag correction.
Current price movement appears to be wave (1) moving upward, with a potential short-term pullback in wave (2).
Key resistance remains $16.00 – a decisive breakout here would reinforce bullish structure heading into wave (3).

✅ Swing Trade Strategy:

• Await the end of wave (2) retracement before entering into wave (3).

🟥 Invalidation Zone: Near $10.80

Technical Analyst:
Kittiampon Somboonsod, CEWA
Source: TradingLounge.com

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