Rally

Chainlink

Coin

<ul class="news-points"> 
 <li><strong>An analyst predicted that LINK would dip lower before it can rise above $8 again.</strong></li> 
 <li><strong>A retest of $7.06 could drive LINK upwards if bulls take control around $6.79.</strong></li> 
 <li><strong>The OBV and ADX indicated that LINK might plunge as low as $6.20 before any reasonable hike.</strong></li> 
</ul> 
<p>Michaël van de Poppe, analyst and founder of MN Trading told his 663,200 Twitter followers that <a href="https://coinedition.com/chainlinks-link-bounce-to-the-top-cools-off-will-it-recover/" rel="noopener noreferrer nofollow">Chainlink‘s (LINK)</a> trajectory may remain unchanged. According to Poppe, LINK was facing heavy resistance a little above $8.</p> 
<h2 class="wp-block-heading" id="h-troughs-before-the-crest"><a></a><strong>Troughs Before the Crest</strong></h2> 
<p>The analyst opined that the token, whose fundamentals are based on Oracle solutions and potential use cases within decentralized applications, could continue hovering around a higher low.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">The weekly timeframe for <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Chainlink</a> is still unchanged. <br><br>Higher low, most likely continuation after. <a href="https://t.co/LnplBrf4y2" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/LnplBrf4y2</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1691732528217145621?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 16, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>For context, a higher low occurs when the price of a cryptocurrency reaches a new low higher than the previous low without being intercepted by a lower low. In most cases, this price movement indicates an entry signal before a bullish run, and Poppe did not fail to highlight the potential.</p> … 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/why-chainlink-link-needs-to-trend-lower-before-another-rally/">Why Chainlink (LINK) Needs to Trend Lower Before Another Rally</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Why Chainlink (LINK) Needs to Trend Lower Before Another Rally

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