Elliott Wave Analysis TradingLounge Daily Chart, November 10, 2022

ChainLink (LINK-X)

LINKUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next higher Degrees: Wave (C) of Zigzag

Details: The decrease of wave V has a trend to trade below 5.311

Wave Cancel invalid Level:9.527

ChainLink (LINKUSD) Trading Strategy: The price is back in the downtrend again. As the price goes up to test the resistance that the MA200 line does not pass, there is strong selling pressure on LINKUSD and it is likely to continue down. But there may be a short-term reversal.

ChainLink (LINKUSD) Technical Indicators: Price trade to below MA50 MA200 Line. Bearish trend MACD Histogram below Zero-Line the price has bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, November 10, 2022

ChainLink (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: Wave V of Impulse

Details: Decrease in the first wave when the complete, price is a pullback in a second wave but must not be above 9.527 level

Wave Cancel invalid Level: 9.527​​

ChainLink (LINKUSD) Trading Strategy: The price is back in the downtrend again. As the price breaks the support at the MA200 line does not pass, resulting in strong selling pressure on LINKUSD and a downward trend. But there may be a short-term reversal.

ChainLink (LINKUSD) Technical Indicators:MACD and MACD Histogram below Zero-Line the price has bearish momentum.

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