Chainlink(LINK): Getting Ready For Another Rejection?

2024年1月17日

LINK coin is another one that caught our attention with a great possibility of downward movement here!

We see that upon reaching that upper line of BB, we are getting rejected multiple times and now we are seeing that last time we had reaction, we had a really nice attempt to move further but we got stopped by 100EMA

We are looking here for a good rejection to happen (another one), and once we get it, we will be looking for a short here!

Swallow Team

2024年1月18日

註釋

Link started to show some early signs of weakness. As we are waiting for the upper zones to be filled (which are very close to the market price), the price has started some downward movement, already bouncing back from the upper side of the BB indicator.

If daily gets closed in red, there is a high chance that price won't go for that upper touch and start the movement as of now!

2024年1月19日

註釋

After some early moves, the price has dipped 10% of the market price.

After that nice movement on LINK, the price is showing us some strength here with the new daily opening in greens.

We are looking forward to lower zones being reached, but we might see prices again near upper zones just for a quick short squeeze!

2024年1月19日

註釋

As the price has reached the support zone we have been looking at, it has bounced right off it, as we can see.

Despite having a good start for a potential bullish movement, we need to wait and see how the daily candle will close from here on and see if we are going to have a potential bullish movement or a potential downward movement.

2024年1月20日

註釋

Link has finally had a reejction from the upper zone. Keep an eye on this one, as from here we might see one sweet short for sure!!

2024年1月21日

註釋

Link showed a really nice rejection for us after touching again that upper side of BB here, which is acting as a decent resistance.

We are looking for short 👀

2024年1月23日

註釋

Following the link previously, we see how nicely it has been dumping so far.

With 11% of market price movement, we see prices reaching that 100EMA, which is mandatory to be broken for further movement to lower zones here!

2024年1月29日

註釋

The price of LINK has had a nice downfall of 15%, which resulted in another rejection on the upper zones, and we received that 100EMA.

Currently, we are seeing a recovery, but the start was promising for sure, and 15% is not that bad at all!