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Top Chainlink Analyst Reveals When LINK Wave 3 Rally Could Start and Expected Price Targets: Key Levels to Watch


Prominent crypto analyst CryptoBullet predicts a major bull run for Chainlink (LINK), which could see the cryptocurrency’s price soar to new all-time highs in the coming months. In a tweet posted yesterday, the analyst outlined an optimistic long-term outlook for LINK, citing clear bullish objectives based on their technical analysis.

According to CryptoBullet, the previous LINK bull cycle, which they identify as Wave 1, saw the cryptocurrency’s price skyrocket from around $4.75 to over $20, marking a Fibonacci extension of 618%. This wave peaked at around $22.80 in March 2023 before a 50% correction, which was enough for wave 2, according to CryptoBullet.

Also read: Cardano’s ADA Signals Strong Buying Opportunities Despite Market Fluctuations: Key Metrics to Watch

CryptoBullet expects the third wave of LINK’s current bull market to begin in the third quarter of 2024. If their analysis is correct, this next wave could propel LINK to new all-time highs, with the analyst setting three ambitious macro price targets.

Huge LINK price targets

CryptoBullet’s first macro target for the upcoming Wave 3 rally is $55, which represents a substantial upside over LINK’s current trading levels around $14. However, the analyst’s projections didn’t stop there. Their second macro target is an impressive $88, while the third and most ambitious target is a whopping $150 per LINK token.

LINK Market Outlook

In recent days, LINK’s price has begun to recover in line with the broader crypto market rally, with a 16% gain over the past four days. However, the cryptocurrency is now facing a key resistance level at USD 14.40. A decisive break above this level could catalyze a spike towards $15.40, where the next major hurdle awaits.

Surpassing $15.40 could potentially pave the way for LINK to reach $17.50 and then the previous all-time high of around $22.80. For CryptoBullet’s bullish forecast to come true, LINK must successfully break through these critical resistance zones and establish higher support levels.

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Although the analyst’s predictions seem optimistic, the crypto market is known for its volatility, and investors should exercise caution and do thorough research before making any investment decisions.

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