An analyst has pointed out how Chainlink is forming a TD Sequential sell signal right now, which could lead to a retracement to this level.
Chainlink Could Decline To $12.50 Following The Sell Signal
As explained by analyst Ali in a new post on X, LINK could be heading toward a correction based on what the TD Sequential signal says. The “Tom Demark (TD) Sequential” is a popular indicator in technical analysis that is used to pinpoint reversals in the price of any asset (which, in the current discussion, is naturally Chainlink).
The metric gives a signal whenever the asset has seen nine candles following a reversal in its price. The signal is a sell one if the candles are green, while it’s a buy one if the candles are red.
This phase is called the “setup phase.” Once the setup is done, a 13-candle long countdown phase kicks off. At the end of these 13 candles, the price could be believed to have hit another probable bottom or top (depending on whether the phase started with a
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