More than 100% market correction. Link is no exception !
With every asset plummeting recently, link was no exception. After seeing good growth, the price went down more than 100% from it's ATH.
What's next ?
After a dip to $14, LINK has seen a good momentum and is trading at $32 price right now, which is also acting as an important level of support. We can also see that the Gann Fan level 1x1 has become a trendline and if it respects this line, it might see a fast growth and reach the immediate resistance level at $42 in about 2 days time, while on the other hand it could accumulate near the immediate support level and could respect the Gann Fan Level 2x1 which is the most important level. If it doesn't hold 2x1 line, it could break downwards and touch the last support line before making an uptrend again.
Money Flow Index has recently visited the overbought region, and looks like it's in an accumulation state. If we see good volume, it could again see an upward move.
Let us know what do you think in the comments box.
For more trading ideas follow us. Visit Tuned to learn algorithmic trading. Design your trading strategies in our terminal and paper trade, backtest and live trade on your favourite crypto trading exchanges.
Happy Trading
What's next ?
After a dip to $14, LINK has seen a good momentum and is trading at $32 price right now, which is also acting as an important level of support. We can also see that the Gann Fan level 1x1 has become a trendline and if it respects this line, it might see a fast growth and reach the immediate resistance level at $42 in about 2 days time, while on the other hand it could accumulate near the immediate support level and could respect the Gann Fan Level 2x1 which is the most important level. If it doesn't hold 2x1 line, it could break downwards and touch the last support line before making an uptrend again.
Money Flow Index has recently visited the overbought region, and looks like it's in an accumulation state. If we see good volume, it could again see an upward move.
Let us know what do you think in the comments box.
For more trading ideas follow us. Visit Tuned to learn algorithmic trading. Design your trading strategies in our terminal and paper trade, backtest and live trade on your favourite crypto trading exchanges.
Happy Trading