Chainlink(LINK): Waiting For Perfect Entry!

Chainlink caught our attention with a good potential for downward movement here (once we see a clean breakdown from that orange zone).

100EMA is the first supportive zone that will be on the way before confimational breakdown, which means we wait for the breakdown of 100EMA!

Swallow Team

Comment:

Chainlink made a good breakdown, resulting in a lot of market price movement.

Not that we had a nice breakdown, we are also seeing signs of a potential head and shoulder pattern to form here, so eyes open.

Comment:

After having a nice movement towards our first target (touching it), the price has been showing some strength from 200EMA and is now going for a re-test in that same broken zone.

We are monitoring for any potential movement or rejection that may happen near that upper broken zone, so keep your eyes open!

Comment:

And after a nice re-test, we had a confirmation, and now the zone has been fully secured by bears.

We are looking for more further movement to lower zones!