Chainlink(LINK): Potential Head & Shoulder Pattern To From!

Chainlink is next on our watchlist, with a nice potential to form a H&S pattern.

While the coin has dumped greatly here, we see a good chance of recovery (smaller) and then, of course, a breakdown of that neckline zone right there!

There is also a chance to see a movement to lower zones from the current zone, so keep an eye!

Swallow Team

Comment:

While Chainlink is trying to secure current zones, we are not seeing any volume there, which means we have to look for additional possible scenarios for this coin.

If buyers do not overtake the current zone, then we will be left with a broken H&S pattern (as they call it). Keep an eye on the current zone and also on both EMAs!

Comment:

Chainlink is looking to secure that current zone. More to that, if we do not see any significant volume in the next 48 hours, then we will see a good downward movement.

So remember, we have not yet secured this zone, so stay steady and wait for a perfect breakdown or a momentum of volume!