LINK Named “Critical Infrastructure” by Grayscale — Is $15 the Next Stop?

Grayscale's latest announcement has sparked interest in the crypto community, designating LINK as essential infrastructure. This shift raises questions about its future value. Could $15 be on the horizon for LINK? Delving deeper, this article explores the factors that might propel its growth and highlights coins primed for a similar surge.

Chainlink Price Analysis: Assessing Potential Growth and Challenges

Source: tradingview 

Chainlink (LINK) is trading between $11 and $14. Recent trends show a downturn, with the coin falling by around 30% in the last month. The price could find support near $10 if this trend continues. On the upside, breaking past $15 could lead to further gains, potentially reaching $18. This would mark an increase of over 30% from current levels. However, current indicators suggest a mixed outlook with the RSI close to neutral at nearly 48, signaling a balanced state among buyers and sellers. As such, careful monitoring is needed to assess whether Chainlink can bounce back and capture potential growth.

Conclusion

LINK has shown strong potential after being recognized as a critical component by Grayscale. This recognition could drive significant interest and investment. As a result, LINK may approach the $15 mark soon. The continuous development and partnerships it secures further strengthen its position in the market. The growth trajectory is promising, making LINK a coin to watch closely in the coming months.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.