Analyst: Chainlink Forms Most Bullish Setup Ever as Chance of Upside Grows
Chainlink has been consolidating within the mid-$12.00 region following its recent surge higher. The break into this price region has been significant, and where it trends next will likely depend on its reaction to the resistance established at $13.00. Yesterday, it was able to surge to this resistance level before facing some selling pressure that […]
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Chainlink (LINK) has experienced a strong decline after peaking at around $20 in August. At the recent lows, the coin traded around as low as $8, meaning that it had declined by 60%. LINK may be poised to revert to its bullish stance though as the coin forms a bottom formation, analysts say. Related Reading: […]
A bullish inverse head and shoulders chart pattern suggests that FTM price could see extended upside. Fantom (FTM) looks poised to hit a new record high in the coming sessions after its 125% price rebound from $1.23 on Dec. 14, 2021, to $2.84 on Jan. 3, 2022 triggered a classic bullish reversal setup. Dubbed inverse head and shoulders (IH&S), the setup appears when an asset forms three troughs below a so-called neckline resistance, with the middle trough (the head) deeper than the left and right shoulder. The price of FTM has recently undergone a similar price trajectory, as shown in the....
The bullish setup has appeared after MSTR’s increasingly positive correlation with Bitcoin, the flagship cryptocurrency that has surged 339% year-on-year and is now struggling to close above $50,000. MicroStrategy’s stock, MSTR, is preparing to undergo a massive bull run in the sessions ahead.So shows a technical setup, dubbed inverse head and shoulder, that has a history of predicting upside moves with an accuracy of 83.44%, as per Samurai Trading Academy’s research. MSTR appears to have formed a similar bullish structure, as shared by independent market analyst Bob Loukas.MicroStrategy....
If Bitcoin achieves stability or further bullishness in the sessions ahead, it could help its rival asset Chainlink (LINK) add more value to its market capitalization.
All the way up until around mid-2020, Chainlink was the hottest crypto token around. But once Bitcoin broke above $10,000 months ago, the altcoin’s uptrend against the top cryptocurrency was broken. Following a full 50% retrace of the rally against BTC, Chainlink is now “ready to continue,” according to one crypto analyst. Here’s what that […]