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Chanlink

Link appears to be finally breaking up from the bullflag. After countless wicks above the pink channel on the daily time frame, link finally broke upward with authority and has already reached the channel’s measured move target. Once we switch to the weekly timeframe shown here, we can see that channel is also a very valid looking weekly bullflag and the measured move target for the bullflag Breakout is $25.30 or so. Now that it has reached the 1st target of the two (channel breakout) some consolidation or slight pullback before heading up to the higher bullflag target is always possible, but I anticipate it reaching the full bullflag target soon enough *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Chainlink's Breakout Ballet?Unveiling a potential crescendo, Chainlink (LINK) pirouettes around a bullish narrative on the crypto stage this October 5, 2023. The meticulous choreography of a 'cup and handle' formation on the daily chart hints at a grand leap awaiting at $7.79. As LINK twirls at $7.732, marking a 4% ascent in the last 24 hours, the spotlight sharpens on the breakout threshold. The market orchestra tunes to a bullish melody as the technical indicators harmonize with LINK's dance. The golden crossover between the 50 and 200-day Exponential Moving Averages casts a hopeful spotlight, while the Directional Movement Index (DMI) echoes a strong momentum despite a minor quiver. In this performance, the high and low notes are marked by: - Resistance Levels: $7.79, $10.00, $12.75 - Support Levels: $6.97, $5.85, $5.66 Amidst a chorus of mixed sentiment, with a Fear & Greed Index score of around 50, the audience holds a breath of cautious optimism. As the curtains of the market drama flutter, will LINK soar in a bullish ballet towards $12.75, or tumble to the bearish depths of $5.66? The baton trembles at $7.79, awaiting to cue LINK's next act in this market theatre, with eyes glued to the unfolding narrative and ears tuned to the market's rhythm, the breakout at $7.79 could be the opening act of a bullish symphony or a bearish dirge.
by MonoCoinSignal
12
Chainlink (LINK) Price Analysis: Bearish Flag Pattern Suggests FLINK/USDT Technical Analysis Chainlink (LINK) is currently trading at $5.37, down 90% from its all-time high of $54. The cryptocurrency has been in a downtrend since the start of the year, and it is currently forming a bearish flag pattern. A bearish flag pattern is a continuation pattern that forms after a sharp move up or down. The flag is formed by a horizontal consolidation after the initial move, and it is typically followed by a move in the opposite direction of the initial move. In the case of LINK, the initial move was down, and the flag is currently forming. This suggests that the downtrend is likely to continue, and that LINK could fall to $2.85 or even $1.79. However, there is a potential for a bullish reversal if LINK can break above the resistance level of $6.70. If this happens, LINK could rally to $5.89, $18, or even $54. Key Levels Support: $2.85/₹1.79 Resistance: $5.89/$18/$54 Note: This is not financial advice. Do your own research before investing in any coins. Conclusion The technical analysis for LINK/USDT is bearish. The cryptocurrency is currently forming a bearish flag pattern, which suggests that the downtrend is likely to continue. However, there is a potential for a bullish reversal if LINK can break above the resistance level of $6.70.
Short
by CryptoPatel
1
Third best entry into Link OF ALL TIME (linkbtc and linketh)LinkBTC has gone against the lower limit of the weekly bollinger band twice before. Technically speaking those would be the best time to go into link versus all other major coins considering how important btc pairs are. BTCUSD has been on an absolute tear and that is why linkbtc has been brought to the base of the bollinger band. The wicking and now green candle about to complete in some 22 hours suggest the bottom on the pair is roughly in. The massive amount of bullish divergence on the MACD and the RSI also back this up. This is now the third best entry into Link of all time on the weekly timeframe. Link.d is also at a relative low. I made the green boxes first based on visual recognition then threw the MTF BB on and I see that link.d is against both the weekly BB lower limit and the monthly baseline. Given how well linked is poised to set ATH and how it is set to rally against BTC there is a lot of confluence saying link is going gangbusters to the upside. Likewise link is poised bullishly against eth. It seems that for a long time there will be endless gains for chainlink. This is the second best entry against Ethereum. I cannot, for legal reasons, guarantee anything. But when link is going to 40-50k a few years from now and you own and held the link you bought after reading this you will be glad you bought however many link you buy. This is like buying btc or link at $15-20$
Long
by This_Guhy
11
Chainlink may be approaching a correction at $9.29Chainlink has been on an incredible run as of late, and I’ve been looking for patterns to predict when this may finally reach it’s peak and enter a correction. What I’ve found suggests we may see that peak around $9.29298 . Looking at the 4 hour chart it seems as if the current uptrend is on the 5th wave of a 5 wave Elliot impulse wave pattern. The current trend starts at $4.89293. In order to estimate where this may end, I applied Fibonacci lines such that they line up with support and resistance levels that have already occurred. I came up with the following 5 waves (white lines in the chart): Wave 1 meets resistance at the 0.382 fib line. Wave 2 finds support around the 0.236 fib line. (Here, the chart toggles between using this as support, then resistance, then finally support to head further up as wave 3). Wave 3 meets resistance at the 0.786 fib line. Wave 4 finds support around 0.5. We are currently in wave 5. Wave 5 did show two shooting star candles (bearish) at the 0.786 fib line indicating it was possibly going to hit resistance there, but it seems to have pushed on past. The current 4 hour candle looks to be sitting comfortably above 0.786 and using it as a new support. If this candle closes up, I would expect one last push to the 1.000 fib line which lies around $9.292928. I would then expect a correction to start. There are also wave-in-wave patterns that increase my confidence in this model and I’ve noted these below. (Note, for the overall wave pattern, I have used thick white lines. For the smaller wave-in-wave patterns, I have used thin green lines during the uptrends and thin red lines during the corrections): Within each of wave 1, 3 and 5, we see smaller underlying 12345 Elliot wave patterns. These are marked with thin green lines on the chart. Within waves 2 and 4 we see Elliot correction waves. These are marked with thin red lines. Notably, wave 2 has 5 waves within it, whereas wave 3 has 3 waves within it. This follows and alternating harmonic pattern that can be seen when comparing successive correction lines. In summary, several patterns suggest that we may enter a correction around $9.29298 . We should be watching for candle patterns indicating a possible reversal at that level. This may be an ideal time to sell and protect profits, then wait for an entry point during the ensuing correction before buying more and riding the next wave up.
COINBASE:LINKUSD
by tarbh
2