LINKs Bullish 5-Wave Pattern Suggests Huge Upside
- LINKs price action aligns with a bullish Elliott Wave count, suggesting potential for significant upside.
- A close above $26 would be a strong bullish signal, potentially indicating a move towards $39-$40.
- While a long-term target of $200 is possible, a super cycle scenario could see the token reaching $1000.
LINK, the native token of the Chainlink oracle network, is on the move. Technical analysis suggests that its current price action forms a pattern akin to a bullish Elliott Wave count, indicating potential for significant upside.
The analysis reveal that the leading token has entered the second wave of the third sub-wave within the fifth wave of a larger bull market cycle. In simple terms this implies that a significant upward move could be imminent.
Investors should keep a close eye on key resistance level at $26. A decisive break out above this level would set the token on a strong bullish path, potentially indicating a move towards $39-$40.
While a long-term target of $200 is possible, a more ambitious super cycle scenario could see LINK reaching $1000. However, its crucial to remember that this is a long-term outlook, and market conditions can change rapidly.
As a leading player in the oracle space, ChainLink has processed millions of smart contract requests daily, bringing real-world data to blockchains like Ethereum, Cardano, BSC & more. Also pioneered real-world solutions across multiple industries.
ChainLinks $12B Impact: A Look at Its Real-World Applications
For instance the oracles platform has secured over $12 billion in value. Powered AI models and DePIN with data integrity via trusted oracles for $AGIX, $OCEAN, $RNDR. It has enabled verifiable carbon credit tracking and renewable energy reporting to promote a greener future.
In terms of Cross-Chain Interoperability, the platform has facilitated seamless communication between 10+ blockchains, including $QNT, $ATOM, $DOT. Chainlink also powers trusted financial institutions like Visa, SWIFT, Google Cloud, ANZ, Fidelity International, and many others to integrate blockchain into traditional systems.
Concurrently, the rise of Made in USA has gained traction fueled by speculation around potential tax benefits and the possibility of their inclusion in a national reserve.
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Text source: TronWeekly
