- LINK holds strong between $22.50 and $25.50, with Elliott Wave setup suggesting a powerful breakout phase ahead.
- RSI stays firm at 68, while MACD shifts positive, signaling healthy market momentum for bulls.
- A break over $25.50 could open targets near $36.50, with $52 projected on Elliott Wave models.
Chainlink continues to hold firm above $22.50 support as traders track an Elliott Wave structure hinting at a fresh advance. A breakout above $25.50 could trigger sharp gains toward $36.50 and potentially $52.
Elliott Wave Structure Points to Higher Targets
Chainlink (LINK) is showing signs of renewed strength after weeks of consolidation. According to crypto analyst nology3000 on X, the token’s price action has formed a textbook Elliott Wave structure. This pattern suggests the market is now preparing for its third wave — often the strongest leg of the cycle.
Wave (1) peaked near $25, before wave (2) pulled LINK down to the $20 region. That correction built a new support base and helped reset indicators.With $36.50 as the initial target, wave (3) has the potential to push the price significantly higher from here. Projections go up to $52.50 after that, and longer-term models even point to a possible run toward $68.
This setup has drawn attention because Elliott Wave theory has historically aligned well with Chainlink’s major moves during previous cycles.
Indicators Support the Bullish Setup
The Elliott Wave forecast seems to be supported by momentum indicators. The MACD on Binance’s 4-hour chart has shifted to the positive, suggesting that buyers are gradually taking back control.
The Relative Strength Index (RSI) is showing strong momentum, hovering around 68 before entering overbought territory. Price action has also been making higher lows at the same time, indicating that traders have been building up steadily.
Short-term moving averages are also starting to rise, which reinforces the bullish structure that is forming at the moment.
Key Levels Traders Should Watch
Chainlink’s immediate obstacle is $25.50, which has prevented multiple rallies in recent weeks. The Elliott Wave outlook would be reinforced and a third-wave advance would begin if there was a clear move above this level.
On the other hand, the $20.00 level is the crucial floor for bulls, and support is located at $22.50. Maintaining the larger uptrend requires protecting this area. A significant decline below might depress sentiment and cause attention to turn to $17.50 as the next safety net.
For now, LINK continues to trade within a tight range. But momentum is gradually building, and traders are closely tracking price action for a breakout that could define the next chapter of this rally.
