bullish

Future

Bitcoin

Chainlink

<ul class="wp-block-list">
  
 <li>Chainlink's recent 175% rise signals bullish momentum, with targets as high as $200 in the upcoming wave.</li>   
 <li>Elliott Wave analysis points to $27 resistance for LINK in 2024, potentially moving toward $200 or even $1,000 in a supercycle.</li>   
 <li>HovWaves suggests DCA at $5 and $7 for long-term LINK investors, with Fibonacci levels offering solid support.</li> 
</ul>   
<p>Chainlink has recently demonstrated price movements showing growth from the lows in 2023. Analyst <a href="https://x.com/HovWaves/status/1864029673589764591" target="_blank" rel="noreferrer noopener">HovWaves</a> believes the token is currently in the third wave of a larger five-wave cycle. This follows his earlier prediction from 2021-2022, where he anticipated that <a href="https://cryptonewsland.com/3-altcoins-poised-to-surge-when-bitcoin-hits-100k/" target="_blank" rel="noreferrer noopener sponsored nofollow">Bitcoin and Chainlink would be in their macro fifth wave</a>. With LINK’s price up by approximately 175% since key buys at $11.11 and $8.85, the bullish trend appears poised for further acceleration.</p>   
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   https://twitter.com/HovWaves/status/1864029673589764591 
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<h2 class="wp-block-heading" id="h-elliott-wave-analysis-key-price-levels-and-structure">Elliott Wave Analysis: Key Price Levels and Structure</h2>   
<p>Looking back at Chainlink's price action, several important trends emerge. Initially, from 2018 to early 2019, <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noreferrer noopener">LINK's price</a> hovered near accumulation levels. Support around $0.50 was solidified through Fibonacci retracements.&nbsp;</p>   
<p>From mid-2019 to mid-2021, Chainlink entered an impulsive bullish phase, completing a five-wave structure. This phase culminated in the fifth wave, reaching an all-time high near $52. Fibonacci extensions highlighted the 1.618 level as a key target during this rally.</p>   
<p>However, the market faced a correction after the peak, and Chainlink retraced to around $16. From 2022 to 2023, LINK consolidated in a narrow range, bouncing between $5.50 and $10. This range respected Fibonacci retracement levels at 0.382 and 0.618. The 2019 trendline acted as dynamic support during pullbacks, allowing the price to stabilize.</p>   
<h2 class="wp-block-heading" id="h-future-price-targets-and-dca-strategy">Future Price Targets and DCA Strategy</h2>   
<p>In 2024, Chainlink began its next phase, starting a fresh impulsive wave. The price is pushing toward resistance at $27, which <a href="https://cryptonewsland.com/xrps-sideways-consolidation-nears-completion-potential-rally-expected-ahead/" target="_blank" rel="noreferrer noopener sponsored nofollow">aligns with Elliott Wave's expectations</a>. Analyst HovWaves has set conservative price targets for LINK’s macro fifth wave at $200, with the potential for higher prices if a supercycle materializes. He also references the work of <a href="https://x.com/Trader_Meka/status/1863667761131458983" target="_blank" rel="noreferrer noopener">Trader_Meka</a>, who suggests the possibility of reaching the thousand-dollar range in a grand three of three.</p>   
<p>For those looking to enter the market, HovWaves highlights strategic Dollar-Cost Averaging (DCA) zones near $5 and $7. These levels provide excellent entry points for long-term investors. As the price continues to respect Fibonacci levels and trendlines, the outlook remains bullish.</p> 
<p>The post <a href="https://cryptonewsland.com/chainlinks-bullish-surge-will-link-reach-200-in-the-upcoming-wave/">Chainlink’s Bullish Surge, Will LINK Reach $200 in the Upcoming Wave?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Chainlink’s Bullish Surge, Will LINK Reach $200 in the Upcoming Wave?

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