LINK.d broke down from a major ascending channel
Looking at the dominance chart, we can see that a 3 year old ascending channel has been broken down with a failed retest. The measured move and the 1.618 fib extension are confluent at 1.7 Billion which is equivalent to 5 dollars on the USD pair.
The USD pair chart also shows a breach of a longterm diagonal support.
Currently the RSI rests at historic support. Link might bounce to retest the channel. A breakdown of the RSI historic support will confirm a move to $5.
Previously I was very optimistic about LINK but the break drown from the channel shows a lot of weakness in the coin currently. LINK did not perform in the recent ALTS runs as good as other ALTS. LINK had a stellar 20x run after March 2020, but was unable to garner the same interest afterward.
The USD pair chart also shows a breach of a longterm diagonal support.
Currently the RSI rests at historic support. Link might bounce to retest the channel. A breakdown of the RSI historic support will confirm a move to $5.
Previously I was very optimistic about LINK but the break drown from the channel shows a lot of weakness in the coin currently. LINK did not perform in the recent ALTS runs as good as other ALTS. LINK had a stellar 20x run after March 2020, but was unable to garner the same interest afterward.
Note
nearing the bottom, I expect a bounce and a final bottom at lower that 4.8 dollars between 1 and 2 dollars.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.