Chainlink LINK (LINK-USD) Price Chart Analysis

LINKUSD Elliott Wave Technical Analysis June16 2023

4Hour

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

Daily

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