Chainlink (LINKUSD) Elliott Wave Technical Analysis 22 September 2022

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Elliott Wave Analysis TradingLounge Daily Chart, 22 September 2022, Chainlink (LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Fol ow trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next higher Degrees: Wave C of Zigzag Details: Still likely to trade below the 6.193 level on the declining wave V.

Wave Cancel invalid Level: 8.136
Chainlink (LINKUSD)Trading Strategy: Bear Market Efforts The price tends to trade below the 5.311 level as the price has already tested resistance at the MA50 area and failed to pass. The price is likely to reverse the downtrend again.

Chainlink (LINKUSD)Technical Indicators: The price is below the MA50, and MA200
line indicating a downtrend. MACD Histogram has a HiddenBearish divergence, and the price has an opportunity reversal.
TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 22 September 2022, Chainlink (LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Fol ow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: Wave V of Motive Details: Still likely to trade below the 6.193 level on the declining wave((3)).

Wave Cancel invalid Level: 8.136
Chainlink (LINKUSD)Trading Strategy: Bear Market Efforts The price tends to trade below the 5.311 level as the price has already tested resistance at the MA50 and MA200 area and failed to pass. The price is likely to reverse the downtrend again.

Chainlink (LINKUSD)Technical Indicators: The price is below the MA50, and MA200
line indicating a downtrend.