Chainlink has posed a challenging cycle thus far, with an extended period of sideways accumulation for over a year. However, the time has now come for the asset to make a move. The Gann Fan indicator illustrates that there is limited room for further sideways action, with three rejections of the 1/2 Fan occurring in the last two years.
If we do break out of this range, we must either move downwards or make a significant upward move, which will likely last until late June 2023. At this point, a move to the 1/1 Gann Fann level with 20 dollars as the maximum price increase seems the most plausible.
Looking at the facts, the monthly histogram for LINK indicates a building momentum, with lighter closures suggesting a potential shift in trend. Additionally, LINK has experienced four straight months of weekly lower highs since the start of the year. My hypothesis is that we will reach a peak in June 2023, which lines up with the predictions for LINK based on the chart below:
The USDT dominance chart has completed its 5 waves and ABC correction, with the final wave most likely to start next week once the yellow support level is broken
Furthermore, the Bitcoin Dominance chart has also completed 5 waves and is currently experiencing a rejection of the 8/1 Gann Fan, indicating that alt season is likely on the horizon.
If Link fails to break the 1/2 Gann Fann level to the upside, the downside target would be
5
, though this scenario has a lower chance of playing out at the moment.
If we do break out of this range, we must either move downwards or make a significant upward move, which will likely last until late June 2023. At this point, a move to the 1/1 Gann Fann level with 20 dollars as the maximum price increase seems the most plausible.
Looking at the facts, the monthly histogram for LINK indicates a building momentum, with lighter closures suggesting a potential shift in trend. Additionally, LINK has experienced four straight months of weekly lower highs since the start of the year. My hypothesis is that we will reach a peak in June 2023, which lines up with the predictions for LINK based on the chart below:
If Link fails to break the 1/2 Gann Fann level to the upside, the downside target would be
5
, though this scenario has a lower chance of playing out at the moment.
Comment:
downside target 5 dollars*
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final wave starting , get ready for 60days of "only up"
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train is leaving
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if there was a time to hold now would be it
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update for those wondering , it held god dam
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in invested into a stablecoin great....
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