THELOGICALINDIAN - Chainlink Is Poised to Drop Further TD Sequential
Chainlink is sliding lower afterwards an attempted bullish reversal. The crowd-favorite crypto asset is bottomward 5.5% in the accomplished 24 hours, sliding aback beneath the cardinal $15 support. LINK now trades for $14.93.
The Tom Demark Sequential suggests that LINK has added to fall. According to a Telegram approach tracking Tom Demark Sequential signals, Chainlink has formed a “Sell S-13” on its account blueprint adjoin the dollar.
The Tom Demark Sequential forms “9” and “13” candles back an asset is at an articulation point in its trend.
Chainlink is acceptable to acquaintance a multi-week alteration should the indicator’s accurateness for the asset continue.
As can be apparent in the blueprint above, the Tom Demark Sequential has had immense accurateness in admiration LINK’s amount activity on a account time frame.
Sequential “9” candles apparent three abstracted bounded highs in the amount of the cryptocurrency over the accomplished two years: already in June 2024, already in February 2024, and already back LINK accomplished an acting top in the average of May.
Technical Analysts Agree With the Tom Demark Sequential
Technical analysts accede with the bearish affect adumbrated by the Tom Demark Sequential’s accumulation of a “Sell S-13” candle for Chainlink.
One crypto analyst afresh remarked that a pullback for Chainlink to $13 will acceptable anon access due to a breach in the bounded trend:
Bitcoinist analyst Tony Spiltoro additionally afresh begin that Chainlink’s on-balance aggregate indicator afresh bankrupt beneath a multi-month uptrend. The indicator tries to beam amount activity in affiliation to bazaar volumes in a bid to actuate trends.
