The post Chainlink price Elliot Wave points to 26% surge as exchange reserves plummet appeared on BitcoinEthereumNews.com.

Chainlink price rose by over 4% on Thursday, September 18, as the crypto market rebounded after the FOMC decision. An Elliott Wave analysis and the falling exchange reserves point to more gains. Summary Chainlink price is in the fifth phase of the Elliot Wave pattern. The total value secured soared to almost $65 billion. The approval of spot LINK ETFs by the SEC will boost its price. Chainlink price Elliot Wave analysis The daily chart shows that the Chainlink (LINK) price formed a double-bottom pattern at $10.96 and a neckline at $17. It moved above that level in August. The coin then formed a golden cross pattern in July as the 50-day moving average moved above the 200-day moving average. It has remained above the two averages and the Ichimoku Cloud indicator since then. Meanwhile, the coin has been in the impulse phase of the Elliott Wave analysis. It formed the first wave between July 1 and 23. It then formed the second bearish phase in the last week of July and the first week of August. The coin then formed the third Elliott Wave and is now in the fourth one. It has now moved to the fifth phase, which will push it to last November’s high of $30, which is about 25% above the current level. The bullish Chainlink price forecast will become invalid if the price moves below the key support at $22. This price coincides with the lowest level this month and the 38.2% Fibonacci retracement level. Chinlink price chart | Source: crypto.news LINK supply in exchanges is crashing A key catalyst for the Chainlink price is that the supply in exchanges has been in a strong downtrend in the past few months, a sign that investors are not selling their coins. There are now 265.98…

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Filed under: News - @ September 19, 2025 2:27 am