Professional Analysis of Chainlink (LINK) on the Weekly Timefram
2024-11-09

On the weekly timeframe, Chainlink has completed its 4th wave correction and is now forming the 5th wave of its bullish trend. Based on Elliott Wave analysis, the price is in the support zone between $12 and $16, and once it stabilizes above $16, a strong upward movement is expected.

🔑 Entry and Exit Points:

    Entry Point: After price stabilizes above $16 and a bullish candlestick is confirmed on the weekly timeframe.

    Price Targets:
        Target 1: $80 (400% gain) – You can take partial profits here and move your stop loss to the entry point.
        Target 2: $180 (1000% gain) – Ideal for final exit or reducing position size.