Analyst Predicts Chainlink to Reach Record Levels

Analyst Predicts Chainlink to Reach Record Levels

Analyst Bluntz predicts that Chainlink (LINK), a decentralized oracle platform based on Ethereum, will reach record levels. This prediction, based on Elliott Wave Theory, indicates that LINK is set to enter a five-wave bullish trend, potentially driving its value up to $70. The analyst noted that LINK is currently priced at $24.44, emphasizing that it is still in the early stages for investors.

NEAR and WIF Show Bullish Signals

Bluntz has also identified Ethereum competitor NEAR and Solana-based meme token WIF as noteworthy. He pointed out that NEAR has broken resistance against Bitcoin (NEAR/BTC), suggesting this breakout signals the start of a new bullish trend. During the writing, NEAR was trading at $7.42, a movement Bluntz referred to as "the revenge of the dinosaurs."

In positive forecasts for WIF, Bluntz expressed that this meme token should aim to surpass Dogecoin (DOGE). He noted that a reverse head and shoulders pattern is forming for WIF, which signifies a strong bullish signal. At the time of writing, WIF was priced at $3.31, and according to Bluntz, it could stand out within the broader meme market.

Technical Analysis Warning for Investors

Bluntz's forecasts rely on technical analysis methods, capturing the attention of investors. However, it is crucial to remember that these analyses do not guarantee outcomes and carry market risks. Analysts recommend that investors conduct their own research. LINK, NEAR, and WIF, which are on the radar of Ethereum-based altcoins, signal potential new opportunities, making it critical to be prepared for market volatility.