LINK/USDT – 30M – SELLThe currency pair Chainlink/Tether (LINK/USDT) jumps from the bullish trendline down.
A bearish movement downwards to the next support level at 12.77 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 14 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 13.06028 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 14 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘On Neck’ candlestick pattern is found. The chart forms ‘On Neck’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 14.54 |
| 2nd High | 14.29 |
| Next High | 14 |
| Current Price | 12.970000000 |
| Next Low | 12.77 |
| 2nd Low | 7.9 |
| 3rd Low |
14 – 13.56 – 14 – 12.77 – 13.12 – 13.29 — 26.144184969149 – 24.245258102393 — 0 – 0 – 2.4776356491932 – 0.58983362595101
Trading Signals: CRYPTO – LINK – LINK/USDT – USDT – On Neck – Triple top chart pattern – –