{"id":554439,"date":"2023-10-06T16:34:47","date_gmt":"2023-10-06T16:34:47","guid":{"rendered":"https:\/\/wncen.com\/?p=554439"},"modified":"2024-06-11T14:29:55","modified_gmt":"2024-06-11T14:29:55","slug":"chainlink-parabolic-after-breaking-28-month-downtrend","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-parabolic-after-breaking-28-month-downtrend\/","title":{"rendered":"Chainlink To Go “Parabolic” After Breaking 28-Month Downtrend?"},"content":{"rendered":"

Chainlink (LINK) is trading at $7.60, still unable to escape the range between $5 and $8 it has spent over a year in. Its recent attempt at a rally, however, has triggered an important “parabolic”signal following a length, 28-month long downtrend.<\/p>\n

Chainlink Taps Parabolic SAR After 28-Month Downtrend<\/h2>\n

Chainlink<\/a> earned itself a reputation as a “blue chip” cryptocurrency during the last bear market. While Bitcoin, Ethereum, and other altcoins remained relatively bearish until the end of 2020, LINKUSD defied all odds and expectations by rising nearly 10,000% leading up to the same timeframe.<\/p>\n

From October 2020 when the rest of the crypto market broke out, Chainlink still did another 600% before reaching a peak at over $50 in May 2021. But since then, it has been almost all downhill and a lot of sideways.<\/p>\n

Related Reading: Chainlink Creator Expects Mass Crypto Adoption To Send Market Cap To $10 Trillion<\/a><\/div>\n

After that price peak, a rejection all the way down to $15 in the same month set the downtrend in motion. At that moment, it also tagged the Parabolic SAR, signaling that the uptrend had “stopped and reversed.”<\/p>\n

The cryptocurrency first spent 12 months in an aggressive downtrend, followed by over 16 months of painful sideways. In total, the coin lost 90% of its value from top to the current local bottom. But what’s next now that the Parabolic SAR has been touched once again?<\/p>\n

\"LINKUSD_2023-10-06_11-45-03\"<\/p>\n

Chainlink tags the 1M Parabolic SAR | LINKUSD on TradingView.com<\/a><\/pre>\n
Is LINKUSD Ready For A 1,000% Rally? How About Three Of Them?<\/h2>\n
The Parabolic SAR<\/a> is a technical analysis indicator created by J. Welles Wilder, Jr., and is used to tell a trader when a trend as potentially “stopped and reversed.” It is commonly used in conjunction with Wilder’s other tools, such as the Relative Strength Index, and Average Directional Index.<\/p>\n
Much like the tool nailed the exact trend change at the top, it might once again be accurately signally a positive trend change after 28 months of downward Parabolic SAR movement. Previous uptrend according to the 1M LINKUSD Parabolic SAR were parabolic indeed.<\/p>\n
Related Reading: LINKing The Dots: Why Chainlink Could Be The Altcoin To Watch, Top Trader Says<\/a><\/div>\n
Across the three times where the Parabolic SAR flipped bullish, LINKUSD gained 1,000% each time. Another 1,000% rally would take Chainlink to over $80 per token. The last primary bull market in Chainlink produced not one, but three of these 1,000% rallies. A 3,000 uptrend could take the coin to over $230 each.<\/p>\n
Coincidentally, the LMACD is also crossing bullish for the first time in 28 months, adding plenty of confluence. With the Parabolic SAR now below price, will the cryptocurrency go on another parabolic uptrend?<\/p>\n
This chart initially appeared in Issue #22 of CoinChartist (VIP)<\/a> alongside 30 other exclusive crypto charts. Subscribe for free<\/a>.<\/p>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Chainlink (LINK) is trading at $7.60, still unable to escape the range between $5 and $8 it has spent over a year in. Its recent attempt at a rally, however, has triggered an important “parabolic”signal following a length, 28-month long downtrend. Chainlink Taps Parabolic SAR After 28-Month Downtrend Chainlink earned itself a reputation as a “blue chip” cryptocurrency during the last bear market. While Bitcoin, Ethereum, and other altcoins remained relatively bearish until the end of 2020, LINKUSD defied all odds and expectations by rising nearly 10,000% leading up to the same timeframe. From October 2020 when the rest of the crypto market broke out, Chainlink still did another 600% before reaching a peak at over $50 in May 2021. But since then, it has been almost all downhill and a lot of sideways. Related Reading: Chainlink Creator Expects Mass Crypto Adoption To Send Market Cap To $10 Trillion After that price peak, a rejection all the way down to $15 in the same month set the downtrend in motion. At that moment, it also tagged the Parabolic SAR, signaling that the uptrend had “stopped and reversed.” The cryptocurrency first spent 12 months in an aggressive downtrend, followed by over 16 months of painful sideways. In total, the coin lost 90% of its value from top to the current local bottom. But what’s next now that the Parabolic SAR has been touched once again? Chainlink tags the 1M Parabolic SAR | LINKUSD on TradingView.com Is LINKUSD Ready For A 1,000% Rally? How About Three Of Them? The Parabolic SAR is a technical analysis indicator created by J. Welles Wilder, Jr., and is used to tell a trader when a trend as potentially “stopped and reversed.” It is commonly used in conjunction with Wilder’s other tools, such as the Relative Strength Index, and Average Directional Index. Much like the tool nailed the exact trend change at the top, it might once again be accurately signally a positive trend change after 28 months of downward Parabolic SAR movement. Previous uptrend according to the 1M LINKUSD Parabolic SAR were parabolic indeed. Related Reading: LINKing The Dots: Why Chainlink Could Be The Altcoin To Watch, Top Trader Says Across the three times where the Parabolic SAR flipped bullish, LINKUSD gained 1,000% each time. Another 1,000% rally would take Chainlink to over $80 per token. The last primary bull market in Chainlink produced not one, but three of these 1,000% rallies. A 3,000 uptrend could take the coin to over $230 each. Coincidentally, the LMACD is also crossing bullish for the first time in 28 months, adding plenty of confluence. With the Parabolic SAR now below price, will the cryptocurrency go on another parabolic uptrend? This chart initially appeared in Issue #22 of CoinChartist (VIP) alongside 30 other exclusive crypto charts. Subscribe for free. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":554443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[16295,16097,75941,75940,79480,56802],"class_list":["post-554439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-chainlink","tag-link","tag-linkbtc","tag-linkusd","tag-linkusdt","tag-parabolic-sar"],"acf":[],"yoast_head":"\nChainlink To Go "Parabolic" After Breaking 28-Month Downtrend?<\/title>\n<meta name=\"description\" content=\"Chainlink (LINK) is trading at $7.60, still unable to escape the range between $5 and $8 it has spent over a year in. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Chainlink To Go “Parabolic” After Breaking 28-Month Downtrend?","url":"http:\/\/wncen.com\/news\/chainlink\/chainlink-parabolic-after-breaking-28-month-downtrend\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/chainlink\/chainlink-parabolic-after-breaking-28-month-downtrend\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_271332920.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_271332920.jpg?fit=5760%2C3840"},"articleSection":"Chainlink","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["chainlink","link","linkbtc","linkusd","linkusdt","parabolic sar"],"dateCreated":"2023-10-06T16:34:47Z","datePublished":"2023-10-06T16:34:47Z","dateModified":"2024-06-11T14:29:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Chainlink To Go “Parabolic” After Breaking 28-Month Downtrend?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/chainlink\\\/chainlink-parabolic-after-breaking-28-month-downtrend\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/chainlink\\\/chainlink-parabolic-after-breaking-28-month-downtrend\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_271332920.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_271332920.jpg?fit=5760%2C3840\"},\"articleSection\":\"Chainlink\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"chainlink\",\"link\",\"linkbtc\",\"linkusd\",\"linkusdt\",\"parabolic sar\"],\"dateCreated\":\"2023-10-06T16:34:47Z\",\"datePublished\":\"2023-10-06T16:34:47Z\",\"dateModified\":\"2024-06-11T14:29:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_271332920.jpg?fit=5760%2C3840","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554439"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=554439"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/554443"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=554439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=554439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=554439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}