Market & Ticker: CHAINLINK – LINK/USDC

Date: 13/12/2024

Horizon / Timing: Tactical Mid-term / 1 to 3 months

Scenario: 

LINK has been evolving in descending range since MARCH 2023. This Range is forming a base for a long-term perspective. We expected a bullish momentum to 41.00 and 52 in the coming weeks.

At the current level as long as 22.00 remains a tactical support valid a larger rise towards 41.00 is expected. On the short term 30,50 is acting as resistance to bypass to release the upside long-term potential towards 41.00.

Technical Key Elements:

• RSI indicator is iin oversbought area – no divergence
• The Moving average are support
• Fibonacci key support is adjusted at 22.00  while the Elliot wave shows upside potential towards 41.00

Trade Idea conclusion: Buy 

• Strategic Target Max  52.00
• Strategic Target 41.00
• Tactical key support (Pivot) 22.00 Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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