The weekly chart of Chainlink (LINK/USDT) reveals a significant long-term contracting triangle pattern, perfectly aligned with concepts from Glenn Neely’s NeoWave theory. Here’s a breakdown of the structure and outlook:
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Neowave Structure Analysis
1. Contracting Triangle Formation
From the all-time high near $52 in 2021, LINK entered a prolonged corrective phase.
The price action from 2021 to late 2023 formed a well-defined contracting triangle, a classic pattern in NeoWave theory.
These patterns typically appear in wave B or wave 4, indicating a correction phase nearing completion.
2. Stable Base Formation (Wave E)
The long horizontal price consolidation between mid-2022 and early 2023 likely represents wave E, the final leg of the triangle.
According to NeoWave rules, once wave E completes, a strong directional move often follows.
3. Breakout & Retest
In early 2025, LINK broke out above the triangle's resistance and has since pulled back to retest it.
This behavior strongly suggests the triangle has completed, and a new impulsive wave (likely wave C or wave 3) has started.
Price Forecast – End of 2025
If this breakout confirms the beginning of a new motive wave (either wave 3 or wave C), we can project the following price targets:
First Target: $25 – $30 (initial wave 1 of the new move)
Second Target: $40 – $50 (full extension of wave 3 or C)
Assuming Bitcoin remains stable or bullish, and LINK maintains its structure:
> Projected Price for LINK by End of 2025: Between $30 and $45
This projection aligns with classic NeoWave post-triangle expectations.
Summary
LINK has completed a textbook contracting triangle.
The breakout and retest suggest a new impulsive phase has begun.
Price action points toward strong upside potential into late 2025.
As long as LINK holds above the triangle resistance (~$12), the bullish structure remains vali
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.