E Elrond And Chainlink Elliott Wave Analysis

  • Elrond made an impulsive five-wave cycle from the lows
  • It can slow down for correction
  • Chainlink price will see more sideways move

Elrond, EGLDUSD is one of those coins who made a strong and impulsive five-wave cycle from the lows that can be already signal for a potential bottom as mentioned and highlighted previously. However, after five waves up, we can expect an A-B-C pullback, so with a potential Crypto market decline, EGLDUSD can just slow down as part of a correction before we will see more upside.

EGLDUSD 4h Elliott Wave Analysis Chart

EGLDUSD Elliott Wave Analysis

Chainlink, LINK/USD is coming slowly higher, but intraday wave structure still looks corrective, so ideally we will see more sideways price action, probably as part of a bigger bearish triangle formation within wave B before we will see more weakness for wave C. However, of course, any stronger and bigger rise might be a signal for a flat in wave B labeled as ALTernate count.

LINKUSD 4h Elliott Wave Analysis Chart

Linkusd Elliott Wave Analysis

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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William K. 2 months ago Member's comment

WHAT are we talking about? It seems only about the analysis system.