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- 1 The chart shows a surge in bullish momentum in the LINK price.
- 2 The LINK price is above all EMAs and is ready to expand more.
Chainlink is a layer that connects blockchains with the real world. It uses a network of decentralized oracle networks to provide reliable and secure data, events, and payments to smart contracts.
In this way, smart contracts can access the off-chain information they need to function as the main form of digital agreement. Chainlink is one of the first networks to enable smart contracts to interact with data from outside the blockchain.
Overview
At the time of publishing, the market value of LINK was $6.3 billion and the FDV was $11.3 Billion. Meanwhile, LINK has a fixed supply of 1 Billion LINK tokens, of which 556.8 Million are in circulation.
LINK coin’s open interest is $334.09 Million, As per Coinglass, another crypto analysis website, it rose by 3.10% in the previous session. The long versus short ratio for 24 hours is 0.9623. The total number of short positions added in the last 24 hours is $985.09K against longs of $222.63 K.
Chainlink Price Prediction For 2023
The chainlink was in a downtrend earlier and was falling from 2022. From June 2022 to September 2023 the price stayed in a consolidation range and the price respected the demand zone very well.
However, the chainlink price has performed outrageously well in the last month from the same support zone which was tested multiple times. As the LINK price consolidated for a hefty amount of time, this showed the level was reliable.
Afterward, the price displayed a surge in bullish momentum in the LINK price. At the time of publishing, the crypto stayed above all the moving averages and showcased buyer’s strength on the charts.
Chainlink price prediction is that, if the market remains favorable, it could reach $13 by the end of December. While the average price of Chainlink is expected to hover around $11.
Price Prediction From 2023 to 2025
Price Prediction From 2024
If in 2023 the price attains the highest potential price of $13, then it could potentially reach $18 by the 2024. 38.46% could go up to ROI from 2023. Meanwhile, the average and minimum values are projected to be $11 and $9.
Price Prediction From 2025
According to the 2025 price prediction, it could make a high of $25. This shows a 92.31% potential ROI for those who stayed invested in it from 2023. On top of that, the average price of LINK is predicted to be around $22 and the lowest price could be $19.
Summary
The price action highlights that the chainlink price performed outrageously well last month from the $5 support level. As the LINK price consolidated for a hefty amount of time, this showed the level was reliable. Moreover, at the time of publishing, the crypto stayed above all the moving averages and showcased buyers’ strength.
The 2025 price prediction, is close to $25. This shows a 92.31% potential ROI for those who invested in 2023.
Technical Levels
Support Levels: $10 and $8
Resistance Levels: $11 and $13
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
