Chainlink Price Prediction for April 3

Over the past 24 hours, the price of Chainlink (LINK) made a strong decline as it faced rejection above $14. Sellers plunged the price toward the low of $13 amid Trump’s new tariff announcement. The fear/greed index has declined, now showing a fear sentiment at level 23. Meanwhile, Chainlink’s trading volume has surged by 51.31% in the last 24 hours, reaching $620 million.

Looking at the longer trend, LINK’s price has been declining since mid-December, dropping from a high of $31 to about $15 on 3 February. In recent weeks, LINK price has been facing volatility as it aims for a hold above $15. In the last 24 hours, its market capitalization has dropped by 3.5%, hitting $8.56 billion. 

Chainlink Struggles Despite Strong Recognition

PayPal, a long-time supporter of the crypto space, has added Solana (SOL) and Chainlink (LINK) to the cryptocurrencies available for its U.S. clients. There wasn’t an official announcement; however, the update appeared on PayPal’s help center webpage. Clients in the U.S. and its territories can buy, sell, and hold LINK and SOL, along with other cryptocurrencies. Despite this strong support, LINK price continues to struggle following Trump’s tariff announcement. 

Coinglass reports that approximately $2 million in Chainlink (LINK) positions were liquidated yesterday, heavily impacting long traders who saw nearly $1.52 million wiped from their investments. Additionally, $484,000 in short positions were also liquidated, reflecting challenges for those betting on price increases.

Interest in trading Chainlink has dropped slightly, with the total volume of open, unresolved trading positions decreasing by 3.8% to $473 million. Despite this, a positive funding rate of +0.003% indicates that buyers might be gearing up for a potential rebound.

Chainlink Price Prediction: Technical Analysis

Chainlink (LINK) is currently facing a strong downward pressure as its price dropped sharply after failing to hold at $14.4. Right now, the market is mostly controlled by sellers pushing the price down. Despite this, there is a hint of hope as buyers are starting to show interest in purchasing LINK at its current lower prices below $13. 

The Relative Strength Index (RSI) is at 38, indicating that the bearish momentum is strong. If buyers manage to rally and push the price up towards the descending resistance line, LINK could potentially reach a resistance level at $18.12. Breaking past this point might restore market confidence and possibly lead to a rise towards $20.

Conversely, if LINK fails to stay above the descending trendline, it could face a stronger decline, possibly falling to an important support level at around $11.70. A drop below this could trigger further losses, reinforcing a bearish trend for Chainlink.

LINK Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, LINK price might aim for the descending resistance line. If the price surges above the resistance line, we might see $18.12. On the downside, $11.7 is the range.   

Long-term: According to Coincodex’s current Chainlink price prediction, the price of Chainlink is expected to increase by 23.27%, reaching $17.46 by April 28, 2025. Based on their technical indicators, the overall market sentiment is currently bearish, while the Fear & Greed Index stands at 26, indicating a state of fear. Over the past 30 days, Chainlink has experienced 16 green days out of 30 (53%) with a price volatility of 6.87%. Given this outlook, Coincodex suggests that now may not be an ideal time to buy Chainlink.

Investment Risks for Chainlink

Investing in LINK price can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.