tokenmetrics

Chainlink: Nice Rally, but Don't Chase

BINANCE:LINKBTC   ChainLink / Bitcoin
Looking at Chainlink (LINK), the nice rally has taken the altcoin to retest the fourth wave from the previous 4th wave. Typically, when a bear market corrects, it can make a sharp move to a "previous 4th."

For Chainlink (LINK), that level is 24678. If Chainlink can somehow break above that level, it would be very bullish. However, if Chainlink fails at that level, then it would be a sign the bull advance has stopped.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.