Hey everyone! Letās dive into the weekly outlook for Chainlink (LINKāUSDT) with a fresh Elliott Wave & EWT analysisāperfect for spotting potential entry points š.
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š§ Weekly Market Snapshot
LINK is currently hovering around $13.20 USDT, showing slight strength with a +1.07% move over the past week; however, itās still down nearly 4.7% month-over-month .
Technical ratings remain āsellā across daily, weekly, and monthly timeframesāso the mood is cautious .
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š Elliott Wave Twist? Weekly EWT Insights
Though traditional weekly trend data leans bearish, the Elliott Wave Theory (EWT) might signal a recovery:
1. Bearish Phase Nearing End
Moving averages on weekly charts lean slightly bearish (~57%) . But notice how LINK recently tested support around ~$11ā12āhinting that the downward ABC correction may be close to completion.
2. Weekly Support & Resistance Levels
Support š: $11.55ā$12.25 (pivot zone) and pro-trendline near ~$11.13 .
Resistance š: Break above $12.31 weekly resistance could ignite a bounce back up to $14.80 or even $18.80 .
3. EWT Interpretation
If LINK completes a wave 2 correction around $11, a wave 3 rally could kick ināpotentially pushing toward $14ā18 in the medium term. Expect early signs in the coming weekly candles.
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š Short-Term Momentum: Mixed Signals
Oscillator & MA trends are neutral to bearish on the weekly charts .
However, 15-min EWT charts show oversold conditions and bullish reversal patterns (Spinning Tops, Doji, etc.) āhinting that short-term rebounds are possible, even if broader trend remains down.
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šÆ What to Watch This Week
Condition Likely Outcome
š¼ Break above $12.31 Validates bullish reboundātargets at $14.80 and $18.80 next.
š½ Drop under $11ā12 Reinforces bearish wave; look for deeper support near $9.40 and $5.25 .
ā ļø Neutral sideways movement Could indicate consolidation before next directional moveābest to wait for clear signals.
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š” EWT Trader Takeaways
Bull case: Watch for wave 3 confirmationāespecially a weekly close above $12.31.
Bear case: Breach under $11 could trigger further decline toward key support zones.
Risk control: Tighten stops below $11 if entering long. Or consider a range-bound swing strategy ($11ā$13).
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ā Community Action & Next Steps
š Charts Ready? Share your weekly LINK-EWT chart to build transparency and credibility.
š¬ Join the Conversation: Invite others ā āWhatās your view? Bullish retest or bearish breakdown?ā
š Keep It Clean & Helpful: No external links or promoting non-Binance services. End with a clear disclaimer.
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āØ Ready for the next move? Whether youāre aiming for that lively wave 3 bump or bracing for a deeper dip, staying alert around $11ā$12 support and $12.31 resistance will be key.
Letās ride the waves together ā share your take and letās learn from each other! š
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ā ļø Disclaimer: This content shares personal analysis and is not financial advice. Always DYOR, manage your risk, and only invest whatāÆyou can afford. No pump or hypeājust honest insight!
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š¬ Curious what the crowd thinks? Drop a commentāIād love to hear your EWT setups!
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