LINK Price Analysis: Bullish Elliott Wave Count Suggests Potential for Significant Upside

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

Technical analysis suggests that the price action of LINK, the native token of the Chainlink oracle network, forms a pattern that could be described as a bullish Elliott Wave count.

This analysis, which is a popular method used by some traders to identify potential price trends, suggests that the token’s price movements may be indicating a strong potential for significant upside.

According to the analysis, the token is currently in the second wave of the third sub-wave within the fifth wave of a larger bull market cycle.

In simpler terms, this analysis is suggesting a substantial upward price movement could be on the horizon for LINK.

For those interested in a more long-term outlook, some speculate that this bull cycle could continue over the next several years, with a potential final target of $200 for LINK.

However, it's important to note that this is just one possible scenario and market conditions can change rapidly.

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