Chainlink Gives “Golden” Signal After Nearly 300 Days Of Consolidation

Name	Symbol	Market	Market Cap ($)	Algorithm
ChainLink Token	LINKUSD	Crypto	8,489,465,585	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

ChainLink Token

LINKUSD

Crypto

8,489,465,585

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.720	-4.74%	14.47	14.47	14.47

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.720

-4.74%

14.47

High Price	Low Price	Open Price	Prev. Close	52 Week Range
15.75	14.10	15.22	15.19	4.74 - 22.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

15.75

14.10

15.22

15.19

4.74 - 22.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:08:02	0.930000	14.47	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:08:02

0.930000

14.47

USD

Price x Volume	Volume	Base Symbol	Related Pairs
19,257,353.10	1,291,119.32	LINK	LINKEUR	LINKGBP	LINKBTC

Price x Volume

Volume

Base Symbol

Related Pairs

19,257,353.10

1,291,119.32

Chainlink Gives “Golden” Signal After Nearly 300 Days Of Consolidation

27/02/2023 9:16pm

NEWSBTC

Chainlink (LINK) daily charts have triggered a golden cross, adding to the growing number of cryptocurrencies that have given such a signal. But unlike other coins, LINKUSD has been in tight consolidation for nearly 300 days. Here’s more on why that number and supporting technicals makes the daily golden cross that much more significant. LINKUSD Triggers Daily Golden Cross: What It Means A golden cross in cryptocurrencies, stocks, forex, or other financial market, is a buy signal that suggests that the trend could be turning increasingly bullish. The buy signal and “golden cross” takes place when a short-term moving average crosses above a long-term moving average from below. The opposite signal, when the short-term crosses below the long-term moving average from above, is called the death cross. Related Reading: Total Crypto Market Triggers Golden Cross, Despite “Deadly” Bitcoin Counterpart When LINKUSD last death crossed on the daily Chainlink was trading at above $20 per coin. In fact, two death crosses took place around this level, along with a failed golden cross. The failed golden cross could leave crypto investors and traders feeling skeptical and not wanting to get caught in a fakeout yet again. However, the latest Chainlink golden cross is coming after a nearly 300-day consolidation phase. Chainlink LINKUSD 1D has golden crossed | LINKUSD on TradingView.com Why 300-Day Consolidation Could Mean A Huge Move In Chainlink Consolidation comes either at a top or a bottom before a reversal, or mid-trend ahead of continuation. The longer the time spent in a trading range, the larger the breakout from the range. LINKUSD has been in a trading range for nearly 300 days and counting, suggesting a massive move ahead. The low volatility phase has led to the tightest weekly Bollinger Bands in the history of Chainlink. Chainlink LINKUSD 1W Bollinger Bands are crazy tight | LINKUSD on TradingView.com The extreme low volatility state has persisted for more than half of the consolidation phase, adding to the potential power of a breakout and expansion of the Bollinger Bands. Simply put, when volatility returns, Chainlink could take off like a rocket, or fall off a cliff – depending on the direction of the breakout. A golden cross on the daily timeframe at such substantial lows could add to the probability of the direction being up. Related Reading: This “Super” Buy Signal Suggests The Crypto Bull Trend Is Strengthening A large move to the upside in Chainlink could signal that its bear market low is in and lead to a more significant and sustained recovery – especially if the token is joined by broader participation from the rest of the cryptocurrency market. Follow @TonyTheBullBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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LINKUSD ChainLink Token