- LINK shows 3 waves up on 1H chart; needs 5-wave move and $24 break for reversal signal, per More Crypto Online.
- Current price at $22.36 with 0.34% gain; ETF filing and whale accumulation drive optimism amid $14.5B market cap.
- Predictions eye $24.59-$44 near-term, up to $100 by 2026, fueled by partnerships and reserve program.
Chainlink’s native token, LINK, is teasing a potential trend shift as technical indicators flash mixed signals in early September 2025. Trading at approximately $22.36 with a 0.34% daily gain, LINK boasts a market cap of $14.5 billion and $1.2 billion in 24-hour volume.
Analyst More Crypto Online points to an Elliott Wave pattern on the 1-hour chart, noting three waves up from the weekend low near $21. A complete five-wave advance and a break above the green resistance line at $24 are crucial for confirming an upside reversal.
The chart, sourced from TradingView Pro, displays Fibonacci retracements with key levels at 38.2% ($19.01), 50% ($17.10), and higher extensions up to 88.7% ($21.88), alongside a descending yellow trendline and brown support zones. This setup aligns with broader bullish catalysts. Grayscale’s recent ETF filing has sparked optimism, with analysts forecasting an 18% breakout to $26 if momentum builds.
Chainlink’s new Reserve program removed $5.5 million in tokens from circulation, bolstering scarcity amid declining exchange reserves. Whales are accumulating aggressively, with institutional wallets adding 44,000 LINK recently, offsetting a 15% dip from August highs. Partnerships with SWIFT, JPMorgan, Aave, and even the US Department of Commerce underscore real-world adoption in RWAs and DeFi.
On-chain metrics support the narrative: CRSI readings indicate oversold conditions, while MACD shows bearish crossovers on weekly frames. Social sentiment on X is buoyant, with predictions ranging from a cup-and-handle breakout to $44 to longer-term targets of $45-$100 by 2026, driven by protocol upgrades and cross-chain innovation.
However, risks loom— a drop below $21 could target $18.5 or even $16, per whale dip-buying scenarios. As September unfolds with potential Fed rate cuts and token unlocks across crypto, Chainlink’s oracle dominance positions it for altseason gains.
Traders should monitor volume surges and RSI for confirmation. With fundamentals stronger than ever, LINK could reclaim $24.59 soon, but caution is advised in this volatile market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
