LINKUSD, To Complete The Major Formation, Next Steps Ahead!

Hi my friends, welcome to this analysis where we are looking at LINKUSD 4-hour timeframe perspective, the events occurred till now, the current structural formation, what we can expect the upcoming times and how to possibly handle these appropriately. LINKUSD was in a protracted downtrend the last times together with majors like bitcoin or ethereum it stopped its up moves and began to correct and show up with pull backs, now this does not mean the pair is complete bearish , as there are some important signals which I detected here it can rather show up with some decent potentials in its next destinies. Therefore I show the current important levels and possible outcomes we should consider for LINKUSD here.

Looking at my chart you can watch this massive descending-wedge-formation LINKUSD has formed, this formation is marked in blue, the price-action already confirmed several times the upper and lower boundary to form a coherent wave-count before the breakout to the upside at the end fully established. This was a good sign for LINKUSD as it showed up with the first fundamentally important step to confirm the huge descending-wedge-formation to move above the 55-EMA in grey which is now support. The next time we can expect a narrower consolidation to happen as it is marked in my chart between the 55-EMA and 200-EMA in green which is actually providing the solid set up for a new leg to the upside and when this establishes it will deliver the second confirmations of the descending-wedge-formation.

For LINKUSD to fully confirm the next move it is important that it really holds the 55-EMA and the upper boundary and when it does a move above the 200-EMA will provide a solid entry set up as it is marked with a high possibility to continue further. When LINKUSD shows up with the proper price-action the next targets are around the 15 level, when the pair reaches this it has to be elevated if it forms a pullback from there as supply enters or it manages to move higher when the pace is strong enough. Currently, LINKUSD is one of the stronger coins within the divergences in cryptocurrency there not much forming such high probable formations, it will be interesting to see how the development here shows up further.

In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
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Information provided is only educational and should not be used to take action in the markets.