Hello all,
Doing a fair analysis with the Fib retracement tool and viewing the local high's/lows, we can see that Chainlink has three strong support systems here:
Support 1: 26.96
Support 2: 24.86
Support 3: 22.48
There are three different scenarios we are facing as we take steps down through this descending triangle. Keeping it simple tends to work for me. I strongly believe we will hit the second support before seeing an uptrend again. While I stay very bullish on Chainlink, the facts are in front of you and that's what we have to go by.
Thank you for checking out my analysis. Take care.
Doing a fair analysis with the Fib retracement tool and viewing the local high's/lows, we can see that Chainlink has three strong support systems here:
Support 1: 26.96
Support 2: 24.86
Support 3: 22.48
There are three different scenarios we are facing as we take steps down through this descending triangle. Keeping it simple tends to work for me. I strongly believe we will hit the second support before seeing an uptrend again. While I stay very bullish on Chainlink, the facts are in front of you and that's what we have to go by.
Thank you for checking out my analysis. Take care.
Please keep in mind, we can see a breakout at any of these levels. Regardless, in my opinion, ChainLink should reach around $78 EOY.
The reason why Chainlink isn't performing as well as these other alternative coins is quite simple. Chainlink is being purchased by these whales in large amounts, and these whales are putting them in cold storage. Putting your coins into a cold storage just means that you are not planning to day trade your coins, or trade them periodically. This makes me very, very bullish on this coin. Don't worry about the coin exploding today, I feel that my investment will pay off in the next 5+ years.