Chainlink (LINK) Price Prediction 2023-2025: Will LINK Hit $40 Soon?

The crypto market is closely watching Chainlink (LINK) as top analyst, ZAYK Charts, predicts a potential price surge for the token.

A top crypto analyst is keeping a close eye on Chainlink (LINK) as he predicts a potential price surge for the token. According to ZAYK Charts, LINK could be headed to $40 — a 229% increase from its current price.The projection is based on a long-term descending wedge pattern on the weekly chart, which historically signals a bullish breakout.

In ZAYK Charts’ analysis, the first wedge pattern spans Chainlink’s price movement from late 2019 to early 2021. During this time, the price formed a wedge, indicated by lower highs and lows. Ultimately, this trend led to a breakout that propelled the price to an all-time high of over $50 in 2021. Now, it appears that another wedge is coming to a close, which could lead to a price increase.

“$LINK Will hit 40$ It's just a matter of time,” the analyst said in a tweet.

The current wedge is nearing its apex, a crucial point in the pattern where breakouts often occur. As a result, traders and investors will be keeping an eye out for the potential of a price recovery and whether it can replicate its past performance.

At the time of writing, Chainlink is trading at around $10.89, close to the lower boundary of the descending wedge. ZAYK Charts’ projection indicates that the price could bounce from this level, with the upper resistance levels at $25 and $40 serving as potential targets.

On the analyst’s chart, the green box highlights the bullish target zone between $12 and $40, which aligns with mid-2021 resistance levels. This technical analysis strengthens the belief that a breakout could occur soon, with the $40 price target being a key area of interest for traders and investors.

ZAYK Charts is confident in the eventual breakout, saying that it is “just a matter of time” before Chainlink hits $40. The descending wedge, which is often associated with bullish reversals, adds further strength to this forecast.

While no exact timeline is provided, the chart's structure suggests that a price move could unfold in the coming weeks or months.

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