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<p>The crypto market is closely watching <a href="https://captainaltcoin.com/?s=LINK&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK)</a> as top analyst, ZAYK Charts, predicts a potential price surge for the token. According to ZAYK Charts’ analysis, Chainlink could reach $40, a 229% increase from its current price.&nbsp;</p>
<p>The projection is based on a long-term descending wedge pattern visible on the weekly chart, which historically signals a bullish breakout.</p>
<h2 class="wp-block-heading" id="strong-historical-context-and-past-wedge-breakout-strong"><strong>Historical Context and Past Wedge Breakout</strong></h2>
<p>The first wedge pattern highlighted in ZAYK Charts’ analysis spans Chainlink’s price movement from late 2019 to early 2021. Throughout this time, the price developed a similar wedge, marked by lower highs and lows.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LINK</a> Will hit 40$<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>It's just a matter of time<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/23f2.png" alt="⏲" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/LINK?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#LINK</a> <a href="https://twitter.com/hashtag/LINKUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#LINKUSDT</a> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Chainlink</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/sdst2zsX6k" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/sdst2zsX6k</a></p>— ZAYK Charts (@ZAYKCharts) <a href="https://twitter.com/ZAYKCharts/status/1843872575191167188?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 9, 2024</a>
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<p>Finally, this trend resulted in a breakout that drove the price to an all-time high of more than $50 in 2021. Based on past trends, the analyst believes Chainlink might have a similar rising movement pretty close.&nbsp;</p>
<p>The current wedge appears to be nearing its apex, a key point in the pattern where breakouts often occur. As a result, monitoring for the potential of a price recovery and whether it can replicate its past performance is worthy.</p>
<h2 class="wp-block-heading" id="strong-link-s-current-price-and-target-zone-strong"><strong>LINK’s Current Price and Target Zone</strong></h2>
<p>At present, <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noopener noreferrer nofollow">Chainlink is trading around $10.89</a>, near the lower boundary of the descending wedge. ZAYK Charts’ projection indicates that the price could bounce from this level, with the upper resistance levels at $25 and $40 acting as potential targets.&nbsp;</p>
<p>The green box on the analyst’s chart identifies the bullish target zone between $12 and $40, aligning with mid-2021 resistance levels. This technical analysis strengthens the belief that a breakout could occur soon, with the $40 price target serving as a key area of interest for traders and investors.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/solana-price-primed-for-a-rally-can-sol-smash-through-152-and-soar/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Solana Price Primed for a Rally—Can SOL Smash Through $152 and Soar?</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-analyst-s-confidence-strong"><strong>Analyst’s Confidence</strong></h2>
<p>ZAYK Charts has expressed confidence in the eventual breakout, noting that it is “just a matter of time” before <a href="https://www.binance.com/en/square/post/2024-10-09-hong-kong-s-ida-collaborates-with-chainlink-for-hkda-stablecoin-14624992632785" target="_blank" rel="noopener noreferrer nofollow">Chainlink</a> hits $40. The descending wedge, often associated with bullish reversals, adds further weight to this forecast.&nbsp;</p>
<p>Although no exact timeline has been provided, the chart’s structure indicates that a price move could happen in the coming weeks or months.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/analyst-predicts-chainlink-link-price-to-hit-40-heres-the-outlook/" rel="noopener noreferrer nofollow">Analyst Predicts Chainlink (LINK) Price to Hit $40 – Here’s the Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Predicts Chainlink (LINK) Price to Hit $40 – Here’s the Outlook

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