Indicator That Accurately Calls Chainlink (LINK) Spike Signals Another Buy Signal From This Level
A popular crypto analyst on X is alerting traders to a potential buy signal for Chainlink (LINK) based on the TD Sequential indicator. Ali, who goes by the X handle @ali_charts, shared a chart showing the indicator presenting a buy signal on LINK’s daily chart.
For those unfamiliar, the TD Sequential indicator is a market timing tool that attempts to identify when an asset is bottoming or topping by tracking the number of consecutive candlesticks that close higher or lower. The pattern of green and red “countdown” candles can signal a potential trend reversal.
According to Ali, the last three buy signals from this particular indicator since December 2023 have preceded gains of 27%, 32%, and 8% respectively for Chainlink. At the time the chart was posted, LINK was trading around $13.10.
A 27% spike from $13.10 would take Chainlink’s price to approximately $16.64, while an 8% rally would push it up to around $14.14. The indicator suggests a one to four-day upswing could be on the horizon, though traders should keep in mind indicators can be wrong and crypto markets remain highly volatile.
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Show more +The TD Sequential was created by market analyst Tom DeMark and aims to identify the timing of market turns with accuracy. However, as with any indicator, it should be used in conjunction with other analysis rather than being solely relied upon. Ali did not offer any other analysis beyond highlighting the potential buy signal from the indicator.
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