After hitting the top of the channel two months ago, LINK is currently moving towards the lower support of the channel.
Assuming that this multi year pattern will hold, we should be expecting either a bearish move towards the trend line (beware of a potential wick) or a move upwards towards the top of the channel.
Seeing that current price action is not bullish at all, I'd expect a 10%-20% move downwards over the next weeks to touch the channel and reverse from there. Would be amazing to see a move like the one after the covid-dump. In that case, a $100 LINK would not be too far off from reality.
Happy trading!
Assuming that this multi year pattern will hold, we should be expecting either a bearish move towards the trend line (beware of a potential wick) or a move upwards towards the top of the channel.
Seeing that current price action is not bullish at all, I'd expect a 10%-20% move downwards over the next weeks to touch the channel and reverse from there. Would be amazing to see a move like the one after the covid-dump. In that case, a $100 LINK would not be too far off from reality.
Happy trading!
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