Long

LINK / USD Price Target: The Sleeping Giant Awakes

Updated

ChainLink/USD

Greetings, Everyone!

Friends, the time is upon us.

*Cue moody anime music*

Soldiers of opportunity, rally to your posts—before us lies a stock poised to rise, a sleeping giant ready to awaken, and with it, the chance to claim the spoils of its potential!

Today, we turn our eyes to the crypto ticker:
Chainlink (LINK)

Chainlink (LINK) Overview

- What is Chainlink?
Chainlink is a decentralized network that connects blockchain-based smart contracts with real-world data, events, and payment systems.

- What Problem Does It Solve?
- Blockchains are isolated systems and cannot access external data directly.

- Chainlink provides oracles— secure bridges between blockchains and the outside world.

- How Does It Work?
- Oracles fetch and verify data from off-chain sources (like APIs or databases).
- This data is fed into smart contracts to trigger actions, such as executing trades, processing insurance claims, or updating prices.

- Key Features:
- Decentralization: Multiple oracles verify the data to ensure reliability and prevent manipulation.
- Flexibility: Can fetch various types of data—market prices, weather conditions, sports results, etc.

- What is LINK?
LINK is Chainlink’s native cryptocurrency:
- Used to pay node operators for providing data.
- Serves as a staking asset to ensure nodes act honestly and maintain the network’s integrity.
- Positioned at the core of blockchain innovation, linking digital systems to the real world.

Technical Analysis

Wave Position
Chainlink is currently in Wave 3 of its 5-wave impulse pattern, based on Elliott Wave Theory.

Wave 3 Characteristics:
- Known for its explosive, momentous moves with shallow or no retracement.
- Typically driven by strong buying energy and market enthusiasm.
- Historically, Wave 3 is the longest and most powerful wave but must adhere to the rule that it cannot be the shortest of the three impulse waves (1, 3, and 5).

- Breakaway Gaps and Buying Pressure:
Wave 3 often features significant buying pressure, which creates breakaway gaps in price action—a sign of strong investor confidence and commitment.
These gaps signal a shift in market sentiment, driving prices upward with limited resistance.

Price Target: $50 💵

An upward swing target of $50 is projected, aligning with previous price action and technical resistance levels.

Chainlink has visited the $50 mark in the past, establishing this as a key resistance level. If this level is breached, it could run even higher in price.

- Importance of $50 Resistance
The $50 level represents a psychological barrier where sellers have historically stepped in.

Breaking through this resistance could signal a new bullish phase and invite further institutional and retail participation.

Not financial advice

Trade closed: target reached

Short Term Target Reached

Potential Flag Breakout
Leading to &26+ currently developing.

Note

Hey Everyone, I am positing a chart update for LinkUSD within the next 10 hours.

This will include:

A) A View of LinkUSD on multiple time frame (With downloadable content) for better viewing experience.

B) The current price action / structure.

C) Price Targets for the end of this bigger move.

D) Risk to Reward Ratio & How to effectively quantify.

E) I would also like to if possible and time permitting cover some advance concepts learned & still learning from some of the greatest traders.

coilemard

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Disclaimer

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