Chainlink Analyst Predicts 3-Digit Surge with Wave 3 in Action

Chainlink is in Wave 3 and could hit $230 based on Fibonacci projections. Current price near $18.39 offers potential for significant growth ahead.

Chainlink (LINK) price analysis reveals a bullish wave structure with the cryptocurrency currently in Wave 3, according to renowned market analyst "Charting Guy." The analysis projects a potential minimum target of $230 for LINK, based on Fibonacci extensions.

Breaking down the wave structure and Fibonacci levels, the analysis suggests that LINK experienced a corrective Wave 2 bottoming out around $13.72 before initiating the explosive Wave 3 rally. The Fibonacci extensions used in the chart provide precise projections for potential resistance and support levels. The 1.618 Fibonacci level, commonly seen as a Wave 3 target, is set at $230.028, suggesting a sharp surge in LINK's price action.

Additionally, the interim resistance levels are marked by key retracement zones. The 0.618 level at $27.77 and the 0.786 level at $31.87 are likely pivotal points in the short term as LINK progresses through the subwaves of Wave 3. Current market data places LINK at $18.395, indicating a breakout potential of over 1,000% if the projected wave structure holds.

The analysis also reveals a primary Wave 1 peak above $53 in 2024, followed by a deep Wave 2 correction retracing close to the 0.618 Fibonacci level. This correction phase coincides with Elliott Wave principles that suggest a period of accumulation before an impulsive Wave 3 begins.

Furthermore, the chart marks a significant Wave 5 target aligned with the 2.618 Fibonacci extension at over $350, further bolstering the triple-digit valuation narrative. This projection suggests a long-term bullish outlook, provided LINK maintains its adherence to the wave structure and critical support levels.

The tweet has sparked widespread interest among LINK enthusiasts and traders, garnering over 34,000 views and hundreds of engagements. Notably, users on the thread have humorously speculated about LINK's future, with one user quipping, "12x by the fall… nice," while another remarked, “Trump has invested in LINK. Pretty bullish.”

The high engagement reflects growing confidence in Chainlink’s market fundamentals and its potential to disrupt decentralized finance (DeFi) and oracle services. However, as always, traders are advised to remain cautious of unforeseen macroeconomic factors and market volatility that could