Chainlink (LINK) Signal Returns That Prompted 14,000% Surge

2023-7-7 01:39

Chainlink (LINK) was among a subset of cryptocurrencies that made a lower low on daily timeframes recently. A lower low is indicative of a continued downtrend and weakness at support.

However, on higher timeframes, technical tell a very different story — one of possible strength building. In fact, a signal has appeared that the last time around prompted a 14,000% rally in LINKUSD.

High Timeframe Bullish Confluence Hints At Surprise Chainlink Recovery

Chainlink (LINKUSD) remains down more than 80% from its former all-time highs. Worse yet, after a full year at bear market lows, the range broke down temporarily forming a lower low on daily charts.

In technical analysis, higher timeframes provide more dominant signals. And although there was a lower low made on the daily, the monthly timeframe did not make a lower low on a closing basis.

On top of being a possible range deviation and reclaim, the monthly candlestick formed a dragonfly doji. A dragonfly doji In Japanese candlestick analysis represents a possible bullish reversal pattern.

Within even lower timeframes, Chainlink was among a slew of altcoins they formed a different bullish Japanese candlesticks reversal pattern on weekly timeframes, called the morning star pattern.

A LINK To The Past: Oversold Stochastic No More

If bullish range reclaim on low timeframes, and a pair of higher timeframe Japanese candlestick reversal patterns aren’t enough confluence for you, there’s more.

The one-month Stochastic has left oversold territory for the first time since late 2021. The indicator spent all of 2022 oversold, and halfway through 2023.

Prior to that, the last time Chainlink left oversold conditions was back in early 2019, before going on an over 14,000% run. The signal is back and in alignment with the potential reversal patterns from above.

Meanwhile, Bitcoin and other cryptocurrencies have enjoyed much more of a recovery by comparison. The broader trend turning around more clearly could remove whatever doubt is remaining surrounding LINK, allowing the altcoin to return to its former glory days.

This chart originally appeared in Issue #10 of CoinChartist (VIP). Sign up for a free subscription.

origin »

Bitcoin price in Telegram @btc_price_every_hour

ChainLink (LINK) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $17.68
Капитализация $0 Rank 99999
Цена в час новости $ 6.1294 (-100%)

lower low chainlink timeframes link however higher

Источник: newsbtc.com

lower low → Результатов: 126


Фото:

On-Chain Findings: Bitcoin Needs To Quickly Attain These Price Levels In Order To “Get Out Of The Woods”

Bitcoin traded below low ranges last week, specifically at a daily low of $29,360. The market has been paying attention to the trends, affirming that Bitcoin’s dip below $30,000 was inevitable. In fact, prices were expected to hit lower levels, had the bears remained as resilient with their quest, which is still on. Bitcoin is […]

2021-7-26 15:07


Фото:

‘Chartmaster’ Expects BTC Price to Tap $29K, Delta Exchange CEO Says ‘Bitcoin Hasn’t Found a Floor Yet’

The price of bitcoin has dropped to a new low for the month of May, sliding to $42,100 per unit during Monday evening’s trading sessions. While a few analysts see bitcoin rebounding and gathering new highs in the coming weeks, a few crypto market strategists believe bitcoin prices could sink much lower than today’s current […]

2021-5-18 19:30


QuickDuck.finance – Advanced Technology, Low Commissions and Integrity for Users

The QuickDuck. finance protocol works similarly to PancakeBunny, but in a new network with instant transactions and significantly lower gas fees. It is based on the most powerful Polygon (MATIC) network Yield Optimizer – QuickDuck, with an extremely effective implementation of mechanisms of the largest farming protocols: PancakeBUNNY, PancakeSwap, QuickSwap, and UniSwap.

2021-5-17 21:28


Bitcoin Sell-Off Worsens as US Jobless Claims Hit Pandemic Low; What’s Next?

Bitcoin edged lower Thursday after the jobless claims in the United States reached their lowest level of the pandemic, confirming that the country’s economy is recovering at a faster rate. The benchmark cryptocurrency fell to as low as $50,305 ahead of the New York opening bell, continuing its decline from the previous five sessions as […]

2021-3-25 16:23


Фото:

Waning Demand for Bitcoin Spells Trouble for Where it Goes Next

Bitcoin saw a slight decline overnight that caused it to invalidate some of the strength that was previously guiding it towards $10,000 It now appears that the crypto is positioned to see further downside as its technical outlook degrades Analysts are pointing to waning demand and growing supply as reasons why the benchmark crypto could soon decline lower It is important to note that this decline could lead BTC as low as the $7,000 region […]

2020-6-6 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Chainlink’s Top Whales Reverse Course, Quietly Scoop Up $263M In LINK

On-chain data shows the top 100 whales on the Chainlink network have again started accumulating the asset recently, retracing their earlier distribution. Top Chainlink Addresses Have Been Adding Since The Start Of November In a new post on X, on-chain analytics firm Santiment has discussed about the latest trend in the holdings of the top Chainlink addresses.

Chainlink’s Next Major Move Comes After This Range, Analyst Says

An analyst has pointed out how Chainlink could see its next major move after it breaks past the range of this technical analysis (TA) pattern. Chainlink Has Been Trading Inside A Triangle Recently In a new post on X, analyst Ali Martinez has shared about a pattern forming in the 1-week price of Chainlink.

Chainlink To $100? Analyst Says This Breakout Could Be The Trigger

An analyst has pointed out how Chainlink could see a major bullish breakout if its price can break past the resistance barrier of this technical analysis (TA) channel. Chainlink Is Currently Trading Inside A Triangle In a new post on X, analyst Ali Martinez has talked about a level that could trigger a major bull rally for Chainlink.