Chainlink Rebound: Elliot Wave Sparks a Comeback

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Chainlink keeps itself boxed in, like a mule wearing a stubborn grin, this year-a narrow lane where the market pretends to breathe. Yet the old Elliot Wave rumor, that weathered mechanic of markets, hints at a rebound as catalysts pile up like dry twigs for a late-night fire. 😂🤨

technical analysis

The weekly chart wears a patient look, LINK paused in recent weeks, resting near the lower edge of the rising broadening wedge-an oft-tabled bullish continuation sign that feels like a hopeful nod from a tired farmer.

An Elliot Wave reading suggests the token may be ripe for a bullish breakout in the near term. It recently finished the CD phase, a stretch that ran from December 2024 through November last year. 🎯

So it may soon begin the DE phase, which is usually bullish in this old book. If that happens, the next milestone to watch is $27, its high mark from August last year. That would be a leap of about 100% from where it sits now, a revival tangier than a dry brushfire turning into a blaze. 🔥

On the flip side, a move below the lower side of the broadening wedge would cast doubt on the rosy forecast, and the chorus of bulls would quiet down like crickets after a heat wave. 🪦🐜

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2026-01-16 19:32