Crypto analyst Credible is sounding the alarm on Chainlink (LINK), predicting a significant correction after its recent surge.
Mid-Cycle Top Reached
Credible believes LINK has reached a mid-cycle top, indicating a potential pullback. He explains that after a 4x rally, a correction of 50-60% is natural and healthy.
Elliott Wave Analysis
Using Elliott Wave theory, Credible suggests that LINK has completed its five-wave rally and is now poised for a correction. His chart shows support at $7.26.
Bearish on Polygon (MATIC)
Credible also warns of a potential drop in Polygon (MATIC), predicting a fall to $0.585. He expects a minimum of 20% downside.
Cautions Investors
Credible urges investors to proceed with caution, emphasizing that his predictions are not investment advice. He recommends due diligence before making any high-risk investments.
