CandleFocus Chainlink’s Bullish Surge, Will LINK Reach $200 in the Upcoming Wave?
2024-12-05
Author: Content Editor
The article discusses the recent price movements of Chainlink (LINK) and analyzes its potential for further growth. Analyst HovWaves believes that LINK is currently in the third wave of a larger five-wave cycle, following his earlier prediction in 2021-2022. LINK's price has seen a significant increase of approximately 175% since key buys at $11.11 and $8.85, indicating a bullish trend. The article also examines the historical price action of Chainlink, highlighting its consolidation phase in 2022-2023 and its subsequent impulsive wave in 2024. The analyst sets conservative price targets for LINK's macro fifth wave at $200, with the possibility of even higher prices if a supercycle occurs. Additionally, the article suggests strategic Dollar-Cost Averaging (DCA) zones at $5 and $7 as favorable entry points for long-term investors. Overall, the outlook for Chainlink remains bullish as it continues to respect Fibonacci levels and trendlines.
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