This Analyst Projects Chainlink (LINK) Price Will Go Parabolic to Three Digits—Here’s the Outlook
Crypto expert Darky has projected on X (formerly Twitter) that Chainlink’s price could experience parabolic growth, pushing it to three-digit territory. The claim aligns with the current technical patterns of LINK, as seen in a detailed price chart analysis that points to a potential upward surge. The forecast comes during a cycle where Chainlink shows strong bullish momentum following months of consolidation.
What you'll learn 👉
Chainlink Chart Analysis: Parabolic Breakout and Price Momentum
The provided chart highlights a daily price trend for Chainlink (LINK), showcasing a breakout after an extended consolidation phase earlier in 2024. The chart reveals a steep upward trajectory, indicating growing bullish sentiment and accelerating price movement. The recent surge corresponds to a parabolic trend that analysts believe could send LINK price above the $100 mark.
Chainlink’s upward structure follows Elliott Wave Theory, identifying a larger corrective pattern labeled (A), (B), and (C). The current impulse wave, labeled (C), projects higher targets in the range of $100–130. Smaller internal waves (1–5) show strong upward momentum, with the 5th wave reflecting a nearly vertical rise, signaling the potential culmination of this move.
Support and Resistance Levels to Watch
The chart outlines key support and resistance levels that traders are monitoring. Support is evident around $18–20, the previous breakout range where price momentum started gaining traction. Additionally, trend support lines provide dynamic support on any pullbacks.
On the resistance side, diagonal channels project a price range between $100 and $130 as a potential target. These levels align with the upper boundary of the price channels and psychological barriers for traders. The convergence of trend lines around this price range further strengthens the forecast.
Read Also: Can XRP Price Smash $3.50? Chart Patterns Signal Explosive Rally!
Analyst’s Prediction Backed by Technical Analysis
Analyst Darky stated: “$LINK will go parabolic to 3 digits. This is the big play of the cycle.” The prediction mirrors the ongoing chart analysis, which supports the possibility of Chainlink reaching three-digit figures during the current cycle. However, traders are advised to remain cautious as the steepness of the trend could indicate a potential short-term correction following the climax of the 5th wave.
Volume and Moving Averages Indicate Strong Momentum
The chart analysis also suggests that LINK’s price has moved significantly above its moving averages, reflecting extreme bullish momentum. Historically, this kind of movement indicates strong buying interest, with moving averages potentially acting as support during pullbacks. Although volume data is not explicitly shown, parabolic moves of this magnitude typically require substantial trading activity to sustain upward momentum.
Chainlink’s technical outlook remains bullish, with analysts eyeing three-digit price targets. However, given the parabolic nature of the move, traders should anticipate corrections once the upward wave reaches exhaustion.
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