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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