ChainLink (LINKUSD) Elliott Wave Technical Analysis 10 November 2022

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Elliott Wave Analysis TradingLounge Daily Chart, 10 November 2022,

ChainLink (LINKUSD)

LINKUSDElliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position:Wave V

Direction Next higher Degrees:Wave (C) of Zigzag

Details: The decrease of wave V has a trend to trade below 5.311

Wave Cancel invalid Level:9.527

ChainLink (LINKUSD) Trading Strategy:The price is back in the downtrend again. As theprice goes up to test the resistance that the MA200 line does not pass, there is strong sellingpressure on LINKUSD and it is likely to continue down. But there may be a short-termreversal.

ChainLink (LINKUSD) Technical Indicators:Price trade to below MA50 MA200 LineBearish trend MACD Histogram below Zero-Line the price has bearish momentum

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 10 November 2022,

ChainLink (LINKUSD)

LINKUSDElliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position:Wave 1

Direction Next higher Degrees:Wave V of Impulse

Details: Decrease in the first wave when the complete, price is a pullback in a secondwave but must not be above 9.527 level

Wave Cancel invalid Level:9.527

 

ChainLink (LINKUSD) Trading Strategy:The price is back in the downtrend again. As theprice breaks the support at the MA200 line does not pass, resulting in strong selling pressureon LINKUSD and a downward trend. But there may be a short-term reversal.

ChainLink (LINKUSD) Technical Indicators:MACD and MACD Histogram below Zero-Line the price has bearish momentum.