In this Chainlink (LINK) price forecast 2024, 2025-2030, we will analyze the price patterns of LINK using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Chainlink (LINK) Current Market Status
What is Chainlink (LINK)
Chainlink is a blockchain-based cryptocurrency network. Chainlink provides a link between the real world and smart contracts. Multiple subcontracts can be generated in Chainlink, which also takes data from only the most trusted nodes and oracles for premium accuracy.
Additionally, LINK is the digital token used to pay for services on the Chainlink network. LINK can be bought and sold for traditional currencies or other digital currencies. Through cryptocurrency exchanges, LINK can be purchased and stored in a crypto wallet and custodian like Gemini.
Chainlink 24H Technical
Chainlink (LINK) Price Prediction 2024
Chainlink (LINK) ranks 10th on CoinMarketCap in terms of its market capitalization. The overview of the Chainlink price forecast for 2024 is explained below with a daily time frame.
In the above chart, Chainlink (LINK) has outlined a rising wedge pattern. A rising wedge pattern indicates a reversal pattern that is frequently seen in bear markets. The bullish pattern appears on charts when the price moves upwards with pivot highs and lows converging to a single point.
This pattern is made by drawing two trend lines, one trend line crossing two or more pivot highs, and the other connecting two or more pivot lows.
At the time of analysis, the price of Chainlink (LINK) was recorded at $20,306. If the pattern trend continues, the price of LINK may reach the resistance level of $20,774. If the trend reverses, the price of LINK may fall to the support of $18,130, $15,289 and $13,405.
Chainlink (LINK) Resistance and Support Levels
The chart below gives the possible resistance and support levels of Chainlink (LINK) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Chainlink (LINK) for 2024.
Chainlink (LINK) Price Prediction 2024 – RVOL, MA and RSI
The technical analysis indicators such as relative volume (RVOL), moving average (MA) and relative strength index (RSI) of (LINK) are shown in the chart below.
From the readings on the graph above, we can draw the following conclusions about the current Chainlink (LINK) market in 2024.
Chainlink (LINK) Price Prediction 2024 — ADX, RVI
In the chart below, we analyze the strength and volatility of Chainlink (LINK) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can draw the following conclusions about the price momentum of Chainlink (LINK).
Comparison of LINK with BTC, ETH
Now let’s compare the price movements of Chainlink (LINK) with those of Bitcoin (BTC), and (ETH).
From the above graph, we can interpret that the price action of LINK is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of LINK also increases or decreases respectively.
Chainlink (LINK) Price Prediction 2025, 2026 – 2030
Using the aforementioned technical analysis indicators and trend patterns, let’s forecast the price of Chainlink (LINK) between 2025, 2026, 2027, 2028, 2029 and 2030.
Closure
If Chainlink (LINK) establishes itself as a good investment in 2024, this year will be favorable for the cryptocurrency. Finally, the bullish Chainlink (LINK) price forecast for 2024 is $36,383. In comparison, factoring in unfavorable sentiment, the bearish Chainlink (LINK) price forecast for 2024 is $8,296.
If the market momentum and investor sentiment rises positively, Chainlink (LINK) could reach $30. Furthermore, with future upgrades and advancements in the Chainlink ecosystem, LINK may surpass its current high (ATH) of $52.88. and marks his new ATH.
This content was originally published by our partners at The News Crypto.
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