Technical analysis suggests a sharp Chainlink price surge, potentially reaching triple-digit levels.
Chainlink Chart Analysis
The chart analysis shows a breakout after an extended consolidation phase for Chainlink in 2024. The chart reveals a steep upward trajectory, indicating growing bullish sentiment and accelerating price movement. According to Elliott Wave Theory, the current impulse wave (C) projects higher targets in the $100–130 range.
Support and Resistance Levels
The chart outlines key support and resistance levels. Support is evident around $18–20, where price momentum started building. On the resistance side, diagonal channels indicate a price range between $100 and $130 as a potential target. The convergence of trend lines around this price range further strengthens the forecast.
Analyst Predictions
Analyst Darky stated $LINK will go parabolic to three digits, which aligns with current chart analysis. Traders are advised to remain cautious as the steepness of the trend could indicate potential short-term correction.
Chainlink's technical outlook remains bullish, with analysts projecting three-digit price targets. Traders should anticipate corrections following the strong upward move.
