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Elliott Wave Analysis TradingLounge Daily Chart

LINK/ U.S. Dollar (LINKUSD)

LINKUSD Elliott Wave Technical Analysis
 

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave ((5))
• Next Higher Degree Direction: Wave I of Impulse
• Wave Cancel Invalid Level: $17.88
• Details: The target for Wave (5) is projected near $39.29, based on the Fibonacci 1.618 extension of previous waves. This aligns with standard Wave V expectations in Elliott Wave Theory.

LINK/ U.S. Dollar (LINKUSD) Trading Strategy
 

LINK/USD is currently at the start of Wave (5), maintaining a clear uptrend. If the price remains above the key support level and breaks the resistance at $30.978, it could initiate a long-term uptrend. Traders should monitor wave structures and critical price levels closely to adjust their strategies.

Trading Strategies

• If ETH sustains support at $2,899.73 and signals a reversal, it would confirm the end of Wave II.
• Consider buying within the correction range of $22.617–$21.508, but only upon receiving a clear reversal signal.
• Set a short-term profit target of $30,000 and a long-term profit target of $39,290.
• Place a Stop Loss below $20.358 to guard against potential structural changes in the wave pattern.

Elliott Wave Analysis TradingLounge H4 Chart

LINK/ U.S. Dollar (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave (2)
• Next Higher Degree Direction: Wave ((5))
• Wave Cancel Invalid Level: Not specified
• Details: A breakout above $26.40 would confirm the beginning of Wave (3) within Wave ((5)), supporting a bullish trend.

LINK/ U.S. Dollar (LINKUSD) Trading Strategy
 

LINK/USD remains in the early stages of Wave (5) with a strong upward trajectory. Should the price maintain above the key support and surpass the resistance level of $30.978, the long-term uptrend will likely persist. Keep tracking wave structures and levels to refine your trading approach.

Trading Strategies

• If ETH sustains support at $2,899.73 and indicates a reversal, it would signal the completion of Wave II.
• Look to buy within the correction range of $22.617–$21.508, waiting for a confirmed reversal.
• Aim for a short-term profit target of $30,000 and a long-term target of $39,290.
• Place a Stop Loss below $20.358 to mitigate risks tied to wave structure changes.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com

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