- Elliott Wave 30m chart confirms wave (2) low at $11.95 Fib 78.6%, with $11.95–$12.23 micro zone holding for bullish continuation.
- Descending trendline broken upside from Coinbase $LINK/USDT, signaling bear exhaustion and wave (3) impulse potential.
- Fundamentals bolster setup: SWIFT/Mastercard integrations secure billions in DeFi/RWA value despite 42% YTD dip.
The ever-volatile world of cryptocurrencies, Chainlink ($LINK) is showing promising signs of a turnaround, according to recent technical analysis from prominent crypto researcher More Crypto Online. $LINK is trading at approximately $12.60, having held above critical support levels despite recent market pressures. This resilience could mark the end of a corrective phase and the start of a bullish impulse, drawing attention from traders and investors alike.
Micro Support Zone Defense
The analysis, shared on X (formerly Twitter), employs Elliott Wave theory to dissect $LINK’s price action on a 30-minute chart from Coinbase. The chart reveals a potential completion of wave (2) at a low near $11.95, part of a larger impulsive structure.
Labeled points highlight key waves: an initial drop in wave (A), followed by a rebound in wave (B), and a final decline in wave (C) that tested Fibonacci retracement levels. Notably, the 78.6% retracement at $11.95 and 61.8% at $12.115 acted as strong support, with the price bouncing off these zones.
Wave (3) Upside Projections
A descending trendline from earlier highs has been broken to the upside, suggesting weakening bearish momentum. If $LINK maintains above the micro support zone of $11.95–$12.23 this week, it could preserve short-term upside potential. Analysts project that holding this level might propel the token into wave (3), often the strongest in Elliott Wave sequences, potentially targeting resistances at $14.00 and beyond.
This outlook aligns with Chainlink’s fundamental strengths in the Web3 ecosystem. As a leading oracle network, Chainlink facilitates secure data feeds for smart contracts, powering DeFi, NFTs, and real-world asset tokenization. Recent integrations with major players like SWIFT and Mastercard have bolstered its utility, securing billions in on-chain value. Despite a yearly dip of around 42% from 2025 peaks, the network’s expansion—now aggregating over 1 billion data points—positions it for growth in a maturing crypto landscape.
Oracle Fundamentals Strength
However, risks remain. Broader market factors, such as Bitcoin’s performance, could influence $LINK. If support fails, a drop toward $11.00 or lower teal wave (5) targets isn’t ruled out. Traders should monitor volume and RSI for confirmation of bullish continuation. For now, the chart’s structure offers optimism. As one reply noted, “if (2) low holds, might be a nice chance to enter before the next leg up.” With Chainlink’s role in bridging blockchain and traditional finance, this could be a pivotal moment for the token heading into 2026.
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.
