Key Takeaways
- Chainlink Current Status: Chainlink expanded its reach to Bitcoin by integrating with the Layer-2 network. This triggered a notable rise in LINK price while the volume remained grounded within the average levels. However, the recent rebound suggests the price is about to begin a fresh price action towards the north.
- Market Performance: After rising from the lows, the price has been trading in a consolidated ascending trend. Currently, the Chainlink price is trading at [current_prices pair=”LINKUSDT”] with a rise of 2.94%, while the market capitalization is around $7.2 billion with a similar rise in value. The trading volume has dropped by 3.27%, which is around $240.86 million, with the bullish sentiment rising to 86. The Fear-Greed Index is around 56, which suggests the market sentiments are currently neutral.
- Technical Analysis: LINK price has been following a trend of excessive consolidation before the next price action. The current trade setup visualizes the same intention to reach the 200-day Moving average, which is the nearest resistance to achieve. Technical indicators remain in favor of the bulls, which suggests the price may trigger a healthy run to reach $20.
- LINK Price Prediction: Chainlink price has been displaying huge strength after breaking out from a prolonged consolidation. With this, the price is expected to maintain a healthy ascending trend and eventually rise above the crucial resistance and remain elevated thereafter.
- Future Outlook: Chainlink is called the oracle of blockchains, and now that it has expanded to Bitcoin, the adoption levels are expected to rise. This may also attract significant liquidity that may increase the buying pressure on the platform. Hence, the future outlook of Chainlink is bright and bullish.
Where will Chainlink Price Head Next?
- Chainlink price has been trading within a decisive symmetrical triangle chart pattern after rebounding from the lows.
- LINK price is trading along the ascending trend line, which has been strong support and hence is expected to offer a strong base until it reaches the edge.
- The Relative Strength Index (RSI) is incremental and hence the price is believed to hit the support but sustain strongly above $11 and breakout of the pattern.
- With this, the LINK price is believed to rise above the 200-day MA at $13.27, which may further push LINK price above $15 in the next few weeks.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$9.96 / $9.10/ $7.69
|
|
Resistance levels (Fibonacci, R1/R2/R3) |
$12.78 / $13.64/ $15.05
|
|
50-day EMA |
$11.36
|
|
200-day EMA |
$12.67
|
|
RSI level |
54.88
|
|
MACD level (Signal Line) |
+0.13 |
Chainlink Price Prediction October 2024
The Chainlink price has risen over the losses it incurred in the first few days of the month, suggesting a bullish close for the month. The price has been trading within a healthy consolidation, suggesting the price is gaining strength every new day. However, the bearish interference cannot be eliminated, which is expected to intensify in a short while. The monthly close is near; hence, a slight rise in volatility may help the price to close the trade around $12.2 to $12.5.
The LINK price is expected to reclaim crucial resistance above the 200-day MA in the first few days, which may keep up the momentum. The market sentiments are also expected to turn in favor of the bulls, which may further attract significant buying pressure. This may push the price above $15 quickly and close the monthly trade around $15.5 to $16.1.
As the trade enters the last month of the year, the volatility is expected to surge with an increase in volume. The rising market sentiments may keep the price upright, which may further assist the price to rise above the higher targets. The bulls may elevate the levels above $18 before the end of the first half, which may increase the trader’s confidence. By the end of the year, the LINK price is believed to trade around $18.8 to $19.5 while intending to rise above $20 quickly.
Chainlink Price Prediction 2025
The bullish momentum initiated at the close of 2024 is expected to strengthen, aiming to establish a new all-time high. By the conclusion of the first half of the year, Chainlink price is anticipated to fall within the range of $75 to $80. In the latter part of the year, the price may exceed the $90 threshold, reaching a new all-time high for the ongoing bull market and potentially attracting bearish activity before marking the $100 milestone. As the year draws to a close, the projected settling range for the price is around $82 to $85, influenced by the heightened strength of bearish forces.
Chainlink price is anticipated to begin 2026 on a negative trajectory, aligning with a downtrend that was initiated in the final weeks of 2025. This downward movement might intensify throughout the year, evolving into a bear market by the first half, leading to a potential decrease of more than 40% to 45% due to substantial selling pressure The bearish influence is expected to persist into the second half, maintaining the downward trend. Despite buyer efforts to uplift the price, it may result in the testing of lower support levels. Consequently, by the close of 2026, the projected trading range for LINK could hover around $65 to $68.
Initially, the price trend is expected to maintain stability in the first few weeks of the year, potentially experiencing some losses. As the first quarter concludes, the bulls are anticipated to showcase their strength, leading to a robust rebound in the price. Progressing into the second quarter, the price may follow an upward trajectory, aiming to reclaim levels that were previously lost. Towards the end of the year, the trend could transition into a recovery phase, with the price projected to trade within the range of $72 to $75.
The year is set to commence with a consistently positive price trend characterized by a robust upward movement. This upward trajectory may propel the price to test higher levels, indicating the potential for achieving even greater targets. In the second half of the year, the price is expected to embark on a recovery phase, potentially evolving into a minor bull run during the third quarter of 2028. The final quarter of the year could witness an intensified bull run, propelling the price sharply upward, surpassing previous highs, and establishing a new all-time high (ATH) exceeding $90, reaching around $92 to $95.
The ongoing upward movement is anticipated to continue, with the potential for the price to surpass $100, reach $105 to $110, and establish a new all-time high (ATH). Following this bullish surge, as observed in previous trends, a significant correction is likely to occur, resulting in a substantial loss of gains for LINK price. The overall trend may lean bearish for the remainder of the year as the bulls encounter challenges in initiating a substantial rebound. This correction phase might persist until the end of the third quarter, potentially causing the price to dip below $95. By year-end, another bearish downturn is anticipated, leading to the price falling below $88 and concluding the year around $80.
The persistent bearish trend is expected to dominate from the start of the year, prompting the bulls to remain passive. Throughout the first half of the year, the price is likely to adhere to a consistent pattern of lower highs and lows, continuously testing the lower support levels. As the first half concludes, there might be a moderate rebound, providing some relief from the prevailing bearish pressure. In the second half of the year, the price is anticipated to ascend, reaching higher resistance levels and temporarily keeping bearish activity at bay. By the end of the year, Chainlink price is projected to trade within the range of $65 to $75.
Will Chainlink Price Rise Again in 2024?
Chainlink price has been displaying immense volatility since Q3 2023, which has been attracting enough volatility for the token. Now that the bulls are gaining center stage, the LINK price is expected to remain elevated for the rest of 2024.
