Chainlink has been showing a textbook technical setup. After spending most of 2023 in a prolonged accumulation phase (highlighted in the range-bound consolidation box), price action broke out and has since been respecting a clear harmonic and Elliott Wave structure.
We’ve now likely completed waves (1) through (4), with a clean breakout from the wedge suggesting the beginning of the final 5th impulsive wave. The projected target zone for wave (5) sits between $53 and $59, aligning with key historical resistance and Fibonacci extension levels.
🔹 Support Zone: $15.14 — key structure and prior breakout level.
🔹 Mid-Level Target: $33.96 — potential resistance and consolidation area.
🔹 Final Target Area: $53.00-$59.34 — Wave 5 objective.
🔹 Stretch Target: $75.60 — if momentum exceeds expectations.
The ascending trendline from mid-2022 continues to act as dynamic support, helping guide this move. As long as the structure holds, the bullish thesis remains intact.
📈 Watching for confirmation of continuation and volume follow-through as we head into Q4.
#LINK #Chainlink #LINKUSDT #CryptoTA #ElliottWave #Harmonics #Altcoins
