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Chainlink / U.S.dollar(LINKUSD) Elliott Wave Technical Analysis 12 December 2022


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Elliott Wave Analysis TradingLounge Daily Chart, 12 December 2022,

Chainlink / U.S.dollar(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:9.480

Chainlink / U.S.dollar(LINKUSD)Trading Strategy: Chainlink is still under selling pressure asthe price remains below the MA200 and MA50, but it has started showing signs of recoveryfrom the 5.525 level. The view is still a pullback to continue down, as the price structure inImpulse is still missing three more waves. so overall It is still a pullback to go down.

Chainlink / U.S.dollar(LINKUSD) Technical Indicators: The price is below the MA200 MA50,indicating a downtrend. The wave oscillators slow the increase

TradingLounge Analyst: Kittiampon Somboonsod

 

1803375066_LINKday.thumb.png.edfa07d39780dff146a96845fd6128b1.png

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 12 December 2022,

Chainlink / U.S.dollar(LINKUSD)

LINKUSDElliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position:Wave 5

Direction Next higher Degrees:Wave 1 of Impulse

Details: The decrease in wave 5 has a trend trade below 6.282

Wave Cancel invalid Level:9.480

Chainlink / U.S.dollar(LINKUSD)Trading Strategy: Chainlink is still under selling pressure asthe price remains below the MA200 and MA50, but it has started showing signs of recoveryfrom the 5.525 level. The view is still a pullback to continue down, as the price structure inImpulse is still missing three more waves. so overall It is still a pullback to go down.

Chainlink / U.S.dollar(LINKUSD) Technical Indicators: The price is below the MA200 MA50,indicating a downtrend. The wave oscillators below a Zero-Line Momentum are bearish.

409229040_LINKH4.thumb.png.59b8a9bb150b0f4d7de91eb9bb8f629a.png

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