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September 01, 2020 1:43pm
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LINK/USDT potential long entry around $11.403

By: Invezz
LINK/USDT trading strategy
  • Buy/sell asset: Buy LINK/USDT
  • Entry price: 11.403
  • Stop loss: 10.66
  • Leverage: 2x
  • Take profit 1: 12.55
  • Take profit 2: 13.75
  • Take profit 3: 15.95
  • Timeframe: 1-2 weeks
  • Maximum profit: 40%
  • Maximum loss: 6.48%
LINK/USDT chart and technical analysis

LINK/USDT has ranged between the $10.456 support level and $11.788 resistance level since October 25th. However, the price broke above the $11.788 resistance level today and made a new high.

Overall, the price of LINK/USD has gained about 74% since October 13, and will possibly gain 35-40% further after making some retracement.

I am expecting the price will drop to $11.40 support level and 0.786 Fibonacci level before heading for new highs. I am considering the $11.40 support level for buy entry and my target for this trade is $15.95.

Chainlink (LINK) fundamental analysis

The Chainlink (LINK) surge is far from done as analysts expect the price to surge to $15.95.

LINK/USDT is among the altcoins that have witnessed a significant resurgence in recent days along with bitcoin and other major cryptocurrencies and will possibly continue their rally in the coming days.

LINK to Tether trade idea takeaways
  • LINK/USDT ┬árecovered 74% since last month.
  • The price will possibly rally to the $15.97 resistance level in the coming days.
  • Multiple take-profit levels have been added to secure profit along the way.
  • The risk-to-reward ratio on this trade is 1:6.4.
  • The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.
  • Good luck!

The post LINK/USDT potential long entry around $11.403 appeared first on Invezz

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