Chainlink’s LINK Cools Off At Crucial Resistance but Analyst Suggests an Entry Point in This Range as He Anticipates 30% Surge

An analyst on Tradingview by the name evasivesteering made a post about the recent price action of LINK using the Wyckoff’s Accumulation indicator. LINK price spiked to around $18.9 two days ago but was rejected back to around $17.8. Yesterday it also closed a little bearish but bulls are now gearing up to face the resistance at $18.9 again.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Evasivesteering’s analysis was able to provide an entry point for him at the major resistance (now support) that was broken around 16.9. This means that he still expects the price to pull back a little more from the current levels around $18.1 to 16.9 (the entry point). The take profit based on his analysis is at $21.5, which will be around a 30% surge.

Crucial Levels to Watch

For the analyst, waiting for his entry point to be triggered is the best. He also provides crucial situations that can invalidate his analysis. In his post, evasivesteering states:

“LINK seems to be at phase D of the Wyckoff’s Accumulation Schematic 2. I’ll wait for entry at the given area. Exit and Take Profit levels are also found in chart. The Fib levels are for Weekly TF, if any weekly candle closes below the Fib. 0.5 is also an exit signal or invalidation condition.”

He believes this is not financial advice and that risk is under the control of the trader.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo