". There is a possibility of temporary retracement to suggested support line (28.18).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. LINKUSD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
A plain and simple comparison to an early chart of ETHUSD price movements around March - April 2017 can indicate that a similar path could be followed by LINKUSD and I would not rule out potential for parabolic moves higher in the near future.
Such path followed by ETHUSD which surpassed the given Fib Extension level of 4.236 would give a potential target of ~90...
Only due to other major coins being very overbought right now I believe that Chainlink (LINK) will see a small correction in the coming week or so, before moving on upwards again. There is room for this coin to grow much higher I believe.
Price recently tested the major uptrend and brokeout above the downtrend resistance. The market is currently printing the ascending triangle pattern. Potential bullish entry above triangle resistance ↗️.
this is the first time publishing an idea for me on tradingview.
Im heavily invested in chainlink because of what the network and team are capable of.
Partnerships everywhere, vital to defi, staking not yet live which will push the price parabolic because of collateralization.
If you dont understand this dive into $LINK's tokenomics and read between the...