Chainlink has been the superstar standout altcoin of the crypto market for the last two years running.
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.Remembering Chainlink’s Rise to the Top of Crypto Charts
In late 2018, Bitcoin collapse from $6,000 to $3,000, and the rest of the crypto market was decimated in the carnage.Chainlink then rallied by over 3,850% over the next several months, peaking at its 2019 high of $4.65 per LINK token.
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TD9 Sell Setup Triggered On Altcoin Trading Pair Against USD
After breaking its former record and setting a new all-time high in February 2020, Chainlink 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.
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.Chainlink 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.
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It called Bitcoin’s top, the December 2018 and 2019 bottoms, and recently called the top of the February rally just ahead of the historical Black Thursday collapse. The accuracy of the signal has been proven across many types of financial markets, and the tool was created by market timing expert . With the indicator being this accurate and developed specifically for timing markets, seeing a strong pullback in the days or weeks ahead on the LINKUSD pair is likely and would confirm the signal was valid.
