Welcome to this analysis about LINKUSD , we are looking at the 4-hour timeframe perspectives. LINKUSD recently managed to bounce from the 15 USD level and formed some initial upthrusts in the structure besides that I discovered an important formation that LINKUSD is forming here which has the potentials to complete with a breakout in the upcoming times, therefore I detected the meaningful levels and what we should expect in the upcoming times.
As when looking at my chart now we can watch there how LINKUSD has formed this main descending-channel-formation in the structure with the coherent wave-count and the waves A to E almost already all completed. With the recent bounce from around the 15 USD zone LINKUSD manages to mark above the 20-EMA in red and is also holding above the steeper ascending-trend-line marked in dashed grey. There is a considerably higher possibility given that LINKUSD builds up further above this structure and also finally mark above the 65-EMA to form the final breakout above the upper-boundary of the channel. Such a price-action will complete the whole descending-channel-formation and activate the further continuations in the structure with the determined setup as it is shown in my chart, a likely target zone will then be the 26.5 level.
For now it will be important on how LINKUSD manages to build up in the descending-channel and how it holds the steeper ascending-trend-line, this is very important because when LINKUSD does not hold the trendline the breakout can also firstly invalidate when LINKUSD moves below this trendline, therefore it is inevitable that LINKUSD manages to increase with bullishness above these preliminary important zones till the breakout can settle.
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Information is only educational and should not be used to take action in the market.
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