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Key takeaways:
Chainlink (LINK) has emerged as a prominent player in the cryptocurrency market, providing a decentralized oracle network that connects smart contracts with real-world data. As the adoption of decentralized finance (DeFi) and blockchain technology continues to grow, Chainlink’s innovative solutions have attracted significant attention from investors and developers alike.
Understanding Chainlink’s potential price movements involves analyzing various factors such as market trends, technological advancements, partnerships, and overall market sentiment. This price prediction aims to provide insights into Chainlink’s future performance by examining both technical analysis and fundamental aspects that could influence its value
| Cryptocurrency | Chainlink |
| Token | LINK |
| Price | $10.58 |
| Market Cap | $6,475,463,082 |
| Trading Volume | $221,444,068 |
| Circulating Supply | 608,099,970 |
| All-time High | $52.88 May 09, 2021 |
| All-time Low | $0.1263 Sep 23, 2017 |
| 24-h High | $13.37 |
| 24-h Low | $11.27 |
Chainlink (LINK) analysis for 20 August, 2024. LINK has notably stabilized above the $10.00 mark despite recent market fluctuations impacting the broader cryptocurrency landscape. This stability is part of a more expansive consolidation phase within a horizontal channel, where LINK has been trading with defined resistance at $10.78 and support at $10.06. Chainlink’s resilience in holding its ground above the $10.00 level reflects a cautious optimism among traders, balancing buying and selling pressures without a clear directional bias.
A close examination of LINK’s trading patterns shows it hovering around $10.14, closely aligned with its immediate support level. This positioning within the horizontal channel suggests a potential tightening of price movements, often preceding more significant price fluctuations. Despite the present stability, Chainlink’s market dynamics hint at underlying opportunities. On-chain data reflects a cautious market sentiment, with more transactions resulting in losses than profits. This suggests that sellers are reluctant to exit at current price levels, which could limit downward pressure on LINK’s price.
Looking ahead, the LINK’s market value to realized value (MVRV) ratios, particularly the 30-day and 90-day ratios, present a compelling narrative for potential buyers. These ratios are often used in negative territory as counter-indicators, suggesting that LINK might be undervalued and poised for a price correction upwards.
Chainlink (LINK) is currently navigating a challenging technical landscape, as indicated by its recent trading activity on the daily chart. The price of LINK has been on a gradual decline, evidenced by its position below all key moving averages (50-day, 100-day, and 200-day SMAs), traditionally viewed as indicators of the asset’s medium to long-term trajectory. Notably, the 50-day SMA has crossed below the 200-day SMA, a bearish signal often referred to as a “death cross,” suggesting that bearish momentum could strengthen. Despite these bearish indicators, LINK has found some short-term support around the $10.115 level, though it faces significant resistance at $10.728, which could be pivotal in determining its near-term direction.
The Relative Strength Index (RSI) is hovering just below the neutral 40 mark, which signals a lack of solid buying momentum but also indicates that LINK is not yet in the oversold territory. This could suggest a potential for stabilization or a slight recovery if bullish catalysts emerge. However, the MACD (Moving Average Convergence Divergence) shows a different aspect of the market sentiment, with the MACD line slightly above the signal line, but both trends are below zero.
Chainlink (LINK) remains under pressure in the 4-hour chart, showcasing difficulty breaking key resistance levels. The price of LINK has consistently faced hurdles near the $10.285 mark, which aligns with the 50-period Exponential Moving Average (EMA), suggesting a solid bearish influence in the market. Above this, further resistance is found at the 100-period and 200-period EMAs, plotted at $10.685 and $11.504, respectively. These moving averages trend downward, reinforcing the resistance levels and highlighting a lack of bullish momentum to increase prices.
The Moving Average Convergence Divergence (MACD) indicator presents a subtle hint of bullish potential as it hovers just above the signal line, indicating slight buying momentum. However, this signal is weak given the bearish context, with the MACD and signal lines remaining close to the zero line. The Relative Strength Index (RSI) is somewhat neutral at around 46.95, suggesting neither oversold nor overbought conditions, which aligns with the ongoing sideways trading pattern seen in recent sessions. This neutrality in the RSI further reflects the market’s uncertainty, leaving LINK in a precarious position where any significant market news or shift in trader sentiment could prompt a decisive upward or downward movement.
| Price Prediction | $20.05 (53.24%) |
| Volatility | 8.40% |
| 50-Day SMA | $15.77 |
| 14-Day RSI | 40.76 |
| Sentiment | Bearish |
| Fear & Greed Index | 44 (Fear) |
| Green Days | 13/30 (43%) |
| 200-Day SMA | $16.36 |
| Period | Value | Action |
| SMA 3 | $14.34 | SELL |
| SMA 5 | $14.05 | SELL |
| SMA 10 | $14.19 | SELL |
| SMA 21 | $14.42 | SELL |
| SMA 50 | $15.77 | SELL |
| SMA 100 | $15.69 | SELL |
| SMA 200 | $16.36 | SELL |
| Period | Value | Action |
| EMA 3 | $14.13 | SELL |
| EMA 5 | $14.07 | SELL |
| EMA 10 | $14.15 | SELL |
| EMA 21 | $14.68 | SELL |
| EMA 50 | $15.34 | SELL |
| EMA 100 | $15.76 | SELL |
| EMA 200 | $15.32 | SELL |
Chainlink represents a robust investment opportunity due to its pivotal role in linking external data to blockchains through its decentralized oracle network, which is crucial for the functionality of smart contracts, especially in DeFi. Its strategic collaborations with major blockchain platforms and traditional finance entities, such as Coinbase Cloud, enhance its reliability and expand its use cases across various industries. This interoperability and the essential nature of its services position Chainlink as a key player in the blockchain ecosystem, making it an attractive option for investors looking for growth potential in the cryptocurrency market.
Chainlink’s price has declined recently, with minor short-term recoveries; however, the move is gradual. The general trend remains bearish as it seeks support.
Chainlink price shows a recent decline with some stabilization, predicting whether Chainlink will reach $15 is uncertain.
It is highly speculative to predict if Chainlink will reach $100.
Chainlink shows some stabilization and potential for recovery, indicating the token may have a promising long-term future.
Chainlink (LINK) has recently made significant strides with new integrations on the Base platform, an Ethereum Layer 2 solution. This expansion includes the deployment of Chainlink Data Streams and Verifiable Random Functions (VRF), enhancing Chainlink’s capabilities on Base. The Data Streams service provides developers with real-time access to external data, facilitating more efficient interactions between decentralized applications and off-chain data sources.
Furthermore, Chainlink’s VRF offers a robust source of randomness, crucial for the security and fairness of decentralized applications. Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, expressed enthusiasm about the synergy between Base’s developer-friendly environment and Chainlink’s technologies, which could significantly boost the adoption and utility of LINK tokens within the DeFi sector. This series of integrations reaffirms Chainlink’s commitment to broadening its impact in decentralized finance, potentially increasing the intrinsic value and demand for LINK.
In August 2024, Chainlink’s price is estimated to be between $9.96 and $10.79, and its average cost is expected to be around $10.68.
| Chainlink Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| Chainlink Price Prediction August 2024 | $9.96 | $10.68 | $10.79 |
After analyzing the prices of Chainlink in previous years, it is assumed that in 2024, the minimum price of LINK will be around $9.96. The maximum expected LINK price may be around $10.79. On average, the trading price might be $10.68 in 2024.
| Chainlink Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| Chainlink price prediction 2024 | $9.96 | $10.68 | $10.79 |
| Year | Minimum | Average | Maximum |
| 2025 | $26.15 | $27.05 | $30.05 |
| 2026 | $38.22 | $39.30 | $46.48 |
| 2027 | $56.82 | $58.78 | $65.89 |
| 2028 | $80.82 | $83.76 | $99.62 |
| 2029 | $118.71 | $122.90 | $142.51 |
| 2030 | $172.44 | $178.58 | $210.99 |
In 2025, the price of Chainlink is expected to reach a minimum value of $26.15. The LINK price can reach a maximum value of $30.05, with an average value of $27.05.
The price of Chainlink is expected to reach a minimum level of $38.22 in 2026. The LINK price can reach a maximum level of $46.48, with an average price of $39.30 throughout 2026.
The price of Chainlink is predicted to reach a minimum level of $56.82 in 2027. The Chainlink price can reach a maximum level of $65.89, with an average price of $58.78 throughout 2027.
Chainlink’s price is forecast to reach the lowest possible $80.82 in 2028. As per our findings, the LINK price could reach the maximum possible level of $99.62 with the average forecast price of $83.76.
The Chainlink price is forecast to reach its lowest possible level of $118.71 in 2029. According to our findings, the LINK price could reach its maximum possible level of $142.51, with an average forecast price of $122.90.
The price of Chainlink is predicted to reach a minimum value of $172.44 in 2030. The Chainlink price could reach a maximum value of $210.99, with an average trading price of $178.58 throughout 2030.
| Firm | 2024 | 2025 |
| Gov.Capital | $27.41 | $53.94 |
| DigitalCoinPrice | $38.64 | $45.46 |
| Coindex | $23.00 | $ 75.86 |
According to our Chainlink price forecast, the coin’s market price might reach a maximum value of $26.06 by the end of 2024. In 2026, the value of LINK could surge to $55.40.
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