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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: Zigzag
Position: Wave C
Direction Next higher Degrees: Wave (I) of Impulse
Wave Cancel invalid Level: 8.498
Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart
ChainLink/ U.S. dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: Wave ((C)) of Zigzag
Wave Cancel invalid Level: 81.238
Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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