Image Source: Unsplash
 

Elliott Wave Analysis TradingLounge Daily Chart, 16 June 2023.  

Chainlink/U.S. Dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: Wave V of Motive

Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1

Wave Cancel invalid Level:

Chainlink/U.S. Dollar(LINKUSD) Trading Strategy: The downtrend continues. From the decline of wave 3, which corresponds to the price being below the MA200 line, showing a clear downward trend, expecting wave 3 to have support at 4.961

Chainlink/U.S. Dollar(LINKUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. Wave oscillator has a bearish momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 16 June 2023.  

Chainlink/U.S. Dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: Wave V of Motive

Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1

Wave Cancel invalid Level: 6.675

Chainlink/U.S. Dollar(LINKUSD) Trading Strategy: The downtrend continues. From the decline of wave 3, which corresponds to the price being below the MA200 line, showing a clear downward trend, expecting wave 3 to have support at 4.961

Chainlink/U.S. Dollar(LINKUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. Wave oscillator has a bearish momentum.

More By This Author:

Elliott Wave Technical Analysis: United Parcel Service Inc. - Thursday, June 15
Elliott Wave Technical Analysis: Ethereum, Thursday, June 15
Elliott Wave Technical Analysis: Theta Token/U.S. Dollar - Wednesday, June 14