Bitcoin 'Greatest Gift' to Mankind, Says Former Google Africa CEO

4分钟前
cryptoglobe

Poloniex Rebrands to Polo Digital Assets Following Circle Spin-Off

24分钟前
financemagnates

German Minister Doubles Down on Statements Against Facebook’s Libra

34分钟前
cointelegraph

Tesla Is to Begin Manufacturing Electric Vehicles in China

1小时前
cryptonewmedia

Blockchain Voting: 2 Oregon counties offer voting to military overseas

1小时前
bitcoinwarrior

Major Bitcoin Milestone: Only 3 Million BTC Left To Mine

1小时前
newsbtc

Poloniex Spins Out From Circle to Form New Exchange Not Available in US

1小时前
cointelegraph

Buy High and Sell Low? Circle Dumps Poloniex As Crypto Market...

1小时前
newsbtc

Blizzard Bans Hearthstone Player, Blockchain Comes to Rescue

1小时前
cointelegraph

Buy High and Sell Low: Circle Dumps Poloniex Crypto Exchange

1小时前
newsbtc

Altcoin Miners Are Leaving Networks Due to Low Fees

2小时前
beincrypto

The Evolving Role of Exchanges

2小时前
coinspeaker

Cryptocurrencies Like Bitcoin Are Too Volatile to Store Value, G7 Says

2小时前
cryptoglobe

Cardano shares details of its partnership with New Balance to solve authenticity on the blockchain

2小时前
cryptoslate

Telegram moves TON blockchain launch date to 2020

2小时前
bitcoinwarrior

Crypto Firms Join Azure as Microsoft Fights Amazon for Market Share

2小时前
cointelegraph

Binance Raises Maximum Leverage On Bitcoin Futures To 125x

2小时前
zycrypto

Trading Jam Activists Stage Protest Outside XTB Offices

2小时前
financemagnates

Poloniex Breaks From Circle, Offers 0% Trading Fees Until 2020

2小时前
beincrypto

Huobi Lira Onramp to Enable Crypto Trading for Turkish Users

2小时前
cointelegraph

Circle to Spin Out Poloniex Less Than 2 Years After $400 Million Takeover

3小时前
coindesk

European Regulators won’t Oppose Stablecoins but Double-Down on Libra Warning

3小时前
cryptonewmedia

“Full Rollout”: Fidelity Opens Up Bitcoin Business to...

3小时前
newsbtc

Bermuda introduces cryptocurrency tax payment in USDC

3小时前
bitcoinwarrior

U.S. Senator Backs Libra Association Member Despite Departures From Project

3小时前
cryptoglobe


Chainlink up 100% and signals a correction before further advance

cryptoslate

9天前前
news.similarNews
cryptoslate

Chainlink is on a tear, but it seems like LINK’s uptrend could be interrupted before it continues advancing.

Since mid-December 2018, Chainlink went through an exponential bullish impulse that saw its price increase nearly 25-fold. But, on June 29 this cryptocurrency finally reached an exhaustion point at $4.80 that triggered a correction. Over the next three months, LINK’s market value retraced 70 percent to hit a low of $1.47 on Sept. 24 and since then it appears to have resumed its bullish trend.

When looking at LINK’s 1-week chart, it looks like the TD sequential indicator was able to time the correction that began in early July as well as the recent upswing. As a matter of fact, this technical index presented a bearish signal (in the form of a green nine) on the week of July 1, which was then validated. And, during the week of Sep. 16 this indicator gave a bullish signal (in the form of a red nine). This buy signal was recently confirmed when a green two candlestick moved above a preceding green one candlestick.

Chainlink is currently on a green two candlestick per the TD sequential indicator and trading above the 7-week moving average. These two factors can be interpreted as evidence that LINK has a high probability of a continued surge.

Based on the 3-day chart, the 61.8 percent Fibonacci retracement zone was able to contain the price of LINK from a further decline. This Fibonacci retracement area is considered by many traders as the ‘golden’ retracement area due to the high probability of a rebound. Chainlink has indeed bounced off this zone and regained the 50 percent Fibonacci retracement level as support. Now, this cryptocurrency could try to test the next level of resistance given by the 38.2 percent Fibonacci retracement area that sits around $3.

Nonetheless, LINK has already skyrocketed more than 100 percent in the last two weeks since it hit a low of $1.47 on Sept. 24. Due to the significance of this upswing, finding an exhaustion point will be ideal for Chainlink to keep its uptrend healthy.

This exhaustion point could actually be found within the next few days or even hours based on both the 1-day and 12-hour charts. Under these time frames, the TD sequential indicator presented a sell signal (in the form of a green nine) estimating that a retracement is underway. If validated, the selling pressure behind LINK could increase taking it to test the 50 percent Fibonacci retracement level or even the 100-day moving average that is currently trading around $2.25.

In the long term perspective Chainlink is bullish and it may be on its way to make a new all-time high before the end of the year. However, the lower time frames are signaling that this cryptocurrency is bound for a retracement. Such a correction would be needed for investors to take profits from the recent surge and for sideliners to buy in. This could eventually create a spike in volume that results in a larger bullish impulse taking LINK to higher highs. In the meantime, investors should be aware that a pullback could be about to occur.

Chainlink, currently ranked #15 by market cap, is up 9.24% over the past 24 hours. LINK has a market cap of $971.34M with a 24 hour volume of $317.11M.

Chart by CryptoCompare

Chainlink is up 9.24% over the past 24 hours.

Subscribe to CryptoSlate Recap, our daily newsletter containing the top stories and analysis.

After Ali began forex trading in 2012 In 2014, he came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started buying Bitcoin. By 2015, he started traveling to spread the word about Bitcoin.

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

若涉及版权问题,请联系:content@hashbee.com,我们将立刻撤下新闻内容

0个评论