ChainLink / U.S. dollar(LINKUSD) Elliott Wave Technical Analysis 2 November 23

[tradinglounge]

Elliott Wave Analysis TradingLounge Daily Chart, 2 November 23, 
ChainLink / U.S. dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((3)) 
Direction Next higher Degrees: Wave I of Impulse
Wave Cancel invalid Level: 8.259
Details: Wave 3 equal to 200.00% of Wave 1 at 12.719

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Third Wave Rise The internal sub-wave lacks one more surge in Wave 5, so we expect a surge above the 2.719 level.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA






Elliott Wave Analysis TradingLounge 4H Chart, 2 November 23,  
ChainLink / U.S. dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: ….
Position: Wave (4)
Direction Next higher Degrees: Wave ((4)) of Impulse
Wave Cancel invalid Level: 8.236
Details: Retracement of wave ((4)) usually .382 x Length wave ((3))

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Third Wave Rise The internal sub-wave lacks one more surge in Wave 5, so we expect a surge above the 2.719 level.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.

 

[Bash4j]

This suggests that LINK price may undergo a short-term correction to gather steam for its next bullish run. Given the altcoin’s impressive late-October performance, a minor pullback could offer a healthy reset for buyers with exchanges like Bitget adopting AI related Tech to boost its users' experience while maintaining the cheapest trading fees and safer trading atmosphere, there can't be better platforms to DCA my LINK/USDT pains than here.
According to the Fibonacci retracement tool the potential support zones lie at $10.5 (23.6% FIB), $9.5 (38.2% FIB), and $8.8 (50% FIB), which could provide the necessary footing for a resurgence in bullish momentum. Based on the original channel pattern, this altcoin price is positioned to aim for a $15.4 target, representing a 15.22% uptick from its current price.

[Sureforex]

10 hours ago, Bash4j said:

This suggests that LINK price may undergo a short-term correction to gather steam for its next bullish run. Given the altcoin’s impressive late-October performance, a minor pullback could offer a healthy reset for buyers with exchanges like Bitget adopting AI related Tech to boost its users' experience while maintaining the cheapest trading fees and safer trading atmosphere, there can't be better platforms to DCA my LINK/USDT pains than here.
According to the Fibonacci retracement tool the potential support zones lie at $10.5 (23.6% FIB), $9.5 (38.2% FIB), and $8.8 (50% FIB), which could provide the necessary footing for a resurgence in bullish momentum. Based on the original channel pattern, this altcoin price is positioned to aim for a $15.4 target, representing a 15.22% uptick from its current price.

Nice. Link is warming up to print wave 5 now  and most times this is the longest wave, if that happens then I believe we will see it above $15, I just checked the price trend on the exchange and discovered the retracement is exhausted, I'm going in now, thanks for sharing.