Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptoknowmics 2022-05-30 11:17:25

LINK Technical Analysis: $14 Test Is Reality

One of the longest corrections in the cryptocurrency market took place in the LINK market. More precisely, it is still happening. However, there are notes of its completion or at least suspension. Since May 2021, sellers have managed to lower the LINK price by almost 90%. Thus, the LINK price reached the price level in July 2020. The $7 range was the main liquidity zone during 2020. Buyers stayed above the $7 mark for six months to continue the growth wave. https://www.tradingview.com/x/epl0SvTl/ Therefore, the $50 test is a merit of a successful fight in the $7 range. We have understood the importance of this range. Now about the growth prospects. In the weekly timeframe, we see that sellers has significantly reduced the dynamics of the fall since 9 May. Three weeks of sluggish decline gave buyers a chance to bounce. The weekly candle from 30 May signals a rebound of the LINK price to $14. This target is quite real in the perspective of month two. The most important thing is that this target does not destroy the structure of the LINK fall wave. This growth wave will be the first step of buyers to the global reversal of LINK price. So far, we do not expect uncorrected growth above $14. However, if after the $14 test, buyers will be able to keep the $7.6 range without updating the local low, we will recommend buying LINK in the medium to long term. Technical Analysis Of LINK On The Daily Timeframe https://www.tradingview.com/x/...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.