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rzinho
Nov 27, 2020 6:35 PM

LINK/USD: The Uptrend Continues.  Long

KRAKEN:LINKUSD120
Chainlink / U. S. DollarKraken

Description

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Link/USD has been trading within a 2 month trading channel recently and looks good value here with resistance at $16.50.

Link has found support along the lower band of this channel over the past 2 months. We can see a series of higher lows followed by higher highs.

The current price sits at $12.36 and the next top within this channel would be in and around $16-$16.50.

We remain bullish on Chainlink.
Trend AnalysisChart PatternsBeyond Technical Analysischainlinkusd
Comments
reasonableEagl12359
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no i dont think so we cant just adjust the channel after each break down , with the last dump , and channel broke down and we retest the channel low boundaries i guess more lows coming
ema36 and ema20 crossed ema200 in the 1 hour frame and 2h frame
rzinho
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@reasonableEagl12359, I went long Link at 0.46 cents in early 2019. This is a long term uptrend. I'm still very bullish on Link so I'm pointing out that the price looks cheap in the short term. The channel low can provide support to any short term trader.
Hop7777
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@reasonableEagl12359, you can when it’s price action like every alt coin is directly influenced by an external factor to LINK and it’s BTC.
rzinho
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@Hop7777,
Ytd Chainlink +606%, Bitcoin 138%.
Chainlink Top performer in Crypto market for last 3 years. I'm bullish on both.
Hop7777
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@ronanmorley, me too.
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