Chainlink Weekend Surge +20%? Expected to Reach 50 by 2025, Can This Wave of Market Take Off!
As the market gradually enters a stable phase, LINK has recently broken the silence, soaring with strength, and forcefully breaking through the $30 mark, directly attracting full attention! The key question now is whether this wave of rise will continue? By the end of 2024, does LINK really have a chance to challenge $50 or even higher?
Since breaking out of the $15 fluctuation range in November, LINK's price has opened an upward channel, continuously refreshing higher highs and higher lows, recently approaching the strong resistance zone of $28.5. This breakthrough above $30 indicates that the bulls have fully taken the initiative. From a technical perspective, LINK is demonstrating the classic Elliott Wave Theory, with the third wave potentially pushing the price above $40, or even higher.
Market Highlights:
Strong Counterattack, Bears Under Pressure: Bears attempted to suppress LINK below $30 but failed. This breakthrough above $30 marks the full return of the bullish trend. Volume Decrease, Selling Pressure Lessens: Trading volume has dropped from $4 billion to $2 billion, indicating weakened selling power. The market maintains a contraction in volume during the rise, instead providing more room for price maneuvering. Analysts' Expectations Skyrocket: Well-known analyst Darky predicts that LINK's target price in the short to medium term is expected to reach $40-$41.5, while long-term potential may even surpass $100.
Key Battles for the Bulls
In the short term, $35 has become an important psychological level; once the bulls break through strongly, it will completely ignite market sentiment. With the overall market sentiment improving, LINK may quickly surge to the $50 area. If this critical price level is conquered, Chainlink will welcome a new market high, truly stepping into the three-digit era!
This surge of LINK is a duet of technical and emotional factors, reflecting the market's strong expectations for the future. However, attention must still be paid to support levels and volume changes. If subsequent pullbacks stabilize without breaking, there may be a larger market waiting for us—$50? Perhaps it's just the starting point!
