{"id":424831,"date":"2020-05-22T17:30:52","date_gmt":"2020-05-22T17:30:52","guid":{"rendered":"https:\/\/wncen.com\/?p=424831"},"modified":"2020-05-22T16:25:17","modified_gmt":"2020-05-22T16:25:17","slug":"chainlink-crypto-altcoin-linkusd-td9","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink-crypto-altcoin-linkusd-td9\/","title":{"rendered":"Why the Crypto Market’s Hottest Altcoin Chainlink May Lose its Momentum"},"content":{"rendered":"
Chainlink<\/a> has been the superstar standout altcoin of the crypto market for the last two years running.<\/p>\n And while the 11th ranked crypto asset has outperformed nearly everything else in the space, its momentum may soon come to a screeching halt as an accurate sell signal has triggered on the altcoin’s daily price charts.<\/p>\n In late 2018, Bitcoin collapse from $6,000 to $3,000, and the rest of the crypto market was decimated in the carnage.<\/p>\n Altcoins suffered worse, if not just as bad. Chainlink reached a low of just twelve cents per LINK token on the USD trading pair.<\/p>\n Chainlink<\/a> then rallied by over 3,850% over the next several months, peaking at its 2019 high of $4.65 per LINK token.<\/p>\n Related Reading | Mark Cuban\u2019s $4,000 Trickle Up Stimulus Could Provide Boost For Crypto<\/a><\/strong><\/em><\/p>\n Just ahead of the Black Thursday collapse that rocked the stock market, precious metals, and cryptocurrencies, while Bitcoin was struggling with resistance at $10,000, Chainlink set a new all-time high, touching $5 per LINK token momentarily before the selloff began.<\/p>\n Prices tanked to under $1.33 per token on the LINKUSD trading pair.<\/p>\n Now Chainlink is back trading at above $4, however, that may be short-lived, as an accurate sell signal triggering on daily price charts of LINKUSD hints that the altcoin’s momentum is fading.<\/p>\n <\/p>\n After breaking its former record and setting a new all-time high in February 2020, Chainlink<\/a> hasn’t been able to play catch up. Most cryptocurrencies haven’t, either. But more has been expected from the superstar altcoin that’s known for overperformance.<\/p>\n Could those days possibly be over? Not likely, given Chainlink’s strong value proposition that has helped it rise in the first place. However, in the short-term, a set back is expected.<\/p>\n Chainlink<\/a> has triggered a TD9 sell setup on the LINKUSD trading pair. TD9 setups signaled by the TD Sequential indicator have been highly reliable throughout the last several years of cryptocurrency price action.<\/p>\nRemembering Chainlink’s Rise to the Top of Crypto Charts<\/h2>\n
TD9 Sell Setup Triggered On Altcoin Trading Pair Against USD<\/h2>\n