Chainlink (LINK) Market Update – April 2025
Current Situation:
Trend: LINK is attempting to form a five-wave move up from the April 2025 low.
Structure: A potential reversal after a more than one-year long correction (running flat pattern).
Macro View: If confirmed, this marks the start of a new bullish cycle.
Elliott Wave Insights:
Wave 1 Development: Still forming.
Wave 2 (correction): Expected after completing Wave 1 – this could be a healthy pullback and a better entry zone for the bigger rally (Wave 3).
Third Wave Rally: Historically the strongest move — major rally expected after Wave 2.
Key Levels to Watch:
Immediate Support: $14.05 (nano-level support).
Major Support Zone: $13.50–$13.00 (if $14.05 fails, lower dip buying zone).
Micro Resistance/Target: $17.30 (1.382 Fibonacci extension for Wave 3 micro target).
Major Milestone Target: $47.00 (macro 100% Fibonacci extension from the previous rally).
---
Trading Plan:
Entry Points:
Low Risk Entry:
If LINK pulls back toward $13.50–$13.00 zone after breaking below $14.05.
Breakout Entry:
Aggressive entry on a strong breakout above $17.30 with volume confirmation.
Profit Targets:
TP1: $17.30 (micro structure extension).
TP2: $22.00 (initial broader rally target).
TP3: $47.00 (macro milestone in a full bullish cycle).
Stop Loss:
Below $13.00 — invalidates bullish structure if price falls below this key support.
---
Summary:
Chainlink (LINK) is building a bullish reversal but confirmation requires a completed five-wave move up. A pullback into the $13–$13.50 zone would offer an ideal risk-reward setup for positioning into a larger Wave 3 rally toward $47+.