*** *** For this particular analysis on LINK we are using the LINKUSDT symbol on the Phemex exchange. *** ***
The idea is on the 1D time-frame where LINK (LINKUSD) is consolidating ever since the May 12 low and the short-term rebound that followed. On a more long-term perspective though, the price seems to be repeating the consolidation of early December 2021, which was also formed after the December 04 Low rebound. The RSI sequences are so far identical and both MACD levels are after a Bullish Cross.
This December 2021 consolidation led to a 0.618 Fibonacci retracement level test. That is currently a little over $11.50 and is our target on a two month horizon.