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chainlink cryptChainlink-LINK Token Price Prediction-Daily Analysis 2023 Chart


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all right everyone welcome back to the channel we are going to take a look at chain link here so hopefully you guys are having a wonderful day if youre new to the channel hopefully you enjoy the content if youve been here for a while uh as you can see here on the chart were gonna do things just a little bit different here Ive been playing around with these parallel channels and Im kind of liking it so you could see that the that chain link is ranging in this this larger range here and most recently its in this smaller range making higher highs and higher lows here so what Im expecting to play out here is chain link in my opinion were bouncing off the 0.5 here at the 690 level were sitting at 703 Im expecting chain link to come back down to the bottom of this Channel at this 650 level here and if that is the case if you want to know if were actually going to get a bounce here and not break this channel come back down to the bottom of the larger Channel down here to the bottom at 541 we just got to keep an eye on the stock RSI here so you can see the top of the channel here we are overbought the bottom of the channel or oversold top of the channel were overbought bottom of the channel were oversold so its pretty consistent here if we scroll back to the bigger one you can see that um top of the channel were overbought if you can see that there bottom of the channel here or oversold on the RSI stock R side back to the top of the channel were back up here so its pretty consistent here so if we come back down here to this 651 level we want to see the stock RSI come back up here and then come back down we want to be over or down here rather in this oversold area and well know that this is going to hold that support and were going to bounce from that point if the stock R site is not down here when we get down here then that probably means that were going to lose this 6 651 rather and were actually going to drop down to the bottom of the more macro parallel channel here all the way down here to 541 so lets go ahead and measure that so from where we are right now looking at a potential seven and seven and a half percent drop to that 651 if that doesnt hold then I would say youre probably going to end up coming down here to the bottom of the larger channel for about a 23 drop you may bounce here and do something like this and then come down here but ultimately if you lose this channel youre coming back to the bottom of that channel there um so just kind of watch that there and if we actually do come down here to this 650 level and we get a nice bounce and we have that confirmation off of that stock RSI then you have the potential to come all the way back up here to about 880 and potentially higher to the top of the channel for anywhere from a 38 39 40 41 move on chain link here so you can see how the stockcar site is moving up here to the middle line but the price is just kind of going sideways if we actually look over to the RSI and the macd here you can see theyre both curled down below the zero below the 50. our size going down vertically that just shows you theres no momentum right now so thats why the prices going sideways theres no momentum even though the stock RSI is moving up so you just want to watch for these support and resistance levels at these uh the top and the bottom of these channels and then look at the stock RSI if that makes any sense so uh other than that we can look over at the hikanashi candles hi kanashi let me zoom in here so we can actually see its printing green here so um we may get a little bounce back up here to the three two and then were going to get rejected there and then start to fall back down so you may do something along the lines of this and then you may chop around for a while before you come down here so something kind of like that but once we hit here we want to look at the stock our side and see if were going to get that bounce and then move back up to the top of the channel if not were going to come back down to the bottom of the larger Channel like I already said but as of now were stuck between two levels here but ultimately this channel Im expecting 650 to get hit here and then well get a nice bounce hopefully and that move higher so Ill try to cover link more often here on the channel and if you guys want anything covered just comment in any video and Ill try to cover it as soon as I can get around to it so hopefully that helped a little bit and with all that said and not Financial advice thanks for watching everyone peace out foreign If you enjoy the content and if it helps in any way don’t forget to like the video and subscribe to the channel!Thinking about investing? 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