Chainlink’s Recent Rise Could Fall: Sell Signal Launched
After increase, the Chainlink may weaken and roll back in market terms. This is evidenced by the appearance of an indicator for the sale of TD 9 in two trading pairs LINKUSD and LINKBTC.
How will a crypto asset respond to these changes? Does this mean that Chainlink will stop its growth and give way to other altcoins? Let’s get it together.
What are the positions of Chainlink in the cryptocurrency market?
From its launch until today, Chainlink has shown great ambition and claims to be a leader among altcoins. It is included in the rating of the largest crypto assets and is one of the most popular among investors.
Chainlink has shown its viability and resistance to fluctuations in market conditions. This is evidenced by the of increase Altcoin by 1500% in 2019. Many crypto analysts believe 2020 could be the runway for Chainlink. This is evidenced by indicators that were recorded at the beginning of 2020.
In particular, from January to March 2020, the price of Chainlink increased by 180%. Altcoin also steadily maintained its market position during the outbreak of Coronavirus outbreaks in the world and the collapse of traditional markets.
But even for the flagship Altcoin, the massive spread of the pandemic soon became a powerful blow. The peak moment was the fall of Chainlink by more than 70%. Despite the fact that some analysts made inconsolable forecasts, Chainlink was able to “get out of the bottom” and grew by 160%.
Some analysts believe that the upward trend for Chainlink in the near future may turn in the opposite direction. The reason for this is the appearance of a sell signal TD 9.
TD 9 sell signal launched on two crypto pairs
Chainlink can stop growing and fall to the bottom again. This is evidenced by changes in the balance of supply and demand. The TD 9 sale indicator has worked on the price chart of LINKUSD and LINKBTC trading pairs. This indicator indicates a possible crypto-asset fall in the near future.
Many traders, when building a strategy for conducting financial transactions, are guided precisely by the TD 9 indicator. This tool has come into the use of analysts thanks to Thomas Demark.
The TD 9 signal is often significant for cryptocurrency and can determine its death rate drop or vice versa breakthrough. Since this indicator worked immediately on two pairs of LINKUSD and LINKBTC, this is a powerful confirmation that the forecasts will come true.
In these conditions, the recent growth of Chainlink should be considered. Analyzing the previous model of behavior during the crisis, experts believe that the decline in the crypto asset will not last long and it will quickly restore its market position.