Hi Traders!
Today we will take a look at the popular cryptocurrency - Chainlink (LINK). In the spring and summer, its growth aroused huge interest. After the March declines, it was around USD 1.28. It reached its absolute maximum in mid-August at USD 20.10. We are talking about a growth of about 1 460% in half a year. That was what brought Chainlink a lot of attention. But how will it develop further?
We are currently at USD 11.16. We see the values of 8.97 - 9.80 USD and then 6.30 - 7.07 USD as the two absolute most important supports. How do we know that the downtrend is ending? First of all, we must realize again the 3 basic cycles - growth - decline - consolidation. This chart passed through extreme growth, a strong decline, and now there should be a phase of consolidation, ie moving to the side. The uptrend will, therefore, be definitively confirmed only at the time when we break-up both trendlines of the chart.
Looking at RSI, we would like to see a drop to the extreme zone, which would mean a decrease in support on the chart and then a move up. LINK has undergone a correction of about - 50%, which could be enough, but in terms of the time we still see space to move sideways.
May the crypto be with you!
Today we will take a look at the popular cryptocurrency - Chainlink (LINK). In the spring and summer, its growth aroused huge interest. After the March declines, it was around USD 1.28. It reached its absolute maximum in mid-August at USD 20.10. We are talking about a growth of about 1 460% in half a year. That was what brought Chainlink a lot of attention. But how will it develop further?
We are currently at USD 11.16. We see the values of 8.97 - 9.80 USD and then 6.30 - 7.07 USD as the two absolute most important supports. How do we know that the downtrend is ending? First of all, we must realize again the 3 basic cycles - growth - decline - consolidation. This chart passed through extreme growth, a strong decline, and now there should be a phase of consolidation, ie moving to the side. The uptrend will, therefore, be definitively confirmed only at the time when we break-up both trendlines of the chart.
Looking at RSI, we would like to see a drop to the extreme zone, which would mean a decrease in support on the chart and then a move up. LINK has undergone a correction of about - 50%, which could be enough, but in terms of the time we still see space to move sideways.
May the crypto be with you!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.