LINK-4H
Let's take a quick look at LINK. This project is part of the DeFi and Crosschain sectors and is currently ranked 11th on CoinMarketCap with a market cap of $11.9 billion. The analysis is conducted on the 4-hour timeframe.
🔍 As you can see, the price is moving within a descending channel, which is for the daily timeframe. However, in this timeframe as well, the price is reacting well to the key areas of the channel.
✨ Currently, the price is at the bottom of the channel, and price action in this area is very important because it can determine the price movement for the next few days or even weeks.
📉 For a short position, if the channel breaks downward and the $18.10 support level, which is a very important support, is broken, you can enter a position and follow the next bearish leg. Set a wide stop-loss because we are capturing the Medium Wave Cycle (MWC), and if the stop-loss is too tight, you might get stopped out before the price moves.
💫 If the RSI breaks the 33.86 support, we can confirm the entry of bearish momentum. In this case, the $16.28 target could be reachable.
📈 For a long position, the first trigger is breaking the $18.92 area. This position is very risky, so enter with the lowest risk your strategy allows. A break above 50 on the RSI would be a strong confirmation for this position, and its target could be the midline of the channel.
🚀 Overall, for a trend reversal and the start of a bullish trend, in my opinion, the price needs to either stabilize above $22.49 or form a higher high and higher low above the midline of the channel. The main trend reversal will occur after breaking the channel and the $26.67 resistance.
📊 Market volume is decreasing day by day, which brings the move closer. So I recommend keeping an eye on the market in the coming days.
🔍 As you can see, the price is moving within a descending channel, which is for the daily timeframe. However, in this timeframe as well, the price is reacting well to the key areas of the channel.
✨ Currently, the price is at the bottom of the channel, and price action in this area is very important because it can determine the price movement for the next few days or even weeks.
📉 For a short position, if the channel breaks downward and the $18.10 support level, which is a very important support, is broken, you can enter a position and follow the next bearish leg. Set a wide stop-loss because we are capturing the Medium Wave Cycle (MWC), and if the stop-loss is too tight, you might get stopped out before the price moves.
💫 If the RSI breaks the 33.86 support, we can confirm the entry of bearish momentum. In this case, the $16.28 target could be reachable.
📈 For a long position, the first trigger is breaking the $18.92 area. This position is very risky, so enter with the lowest risk your strategy allows. A break above 50 on the RSI would be a strong confirmation for this position, and its target could be the midline of the channel.
🚀 Overall, for a trend reversal and the start of a bullish trend, in my opinion, the price needs to either stabilize above $22.49 or form a higher high and higher low above the midline of the channel. The main trend reversal will occur after breaking the channel and the $26.67 resistance.
📊 Market volume is decreasing day by day, which brings the move closer. So I recommend keeping an eye on the market in the coming days.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.