Chainlink crypto price broke out of a three-month consolidation phase and made a bullish rally till the $20 level. Currently, the crypto holds near the higher levels suggesting a strong outlook and more potential on the upside.
The $20 level is a psychological level which has been acting as a major supply zone and restricting the further momentum on the upside. The breakout above the $20 level may bring fresh momentum and the crypto may surge to test the higher supply levels of $25 and $27.
At the time of writing, the Chainlink crypto was at $18.57 with an intraday drop of 1.28%. It has a live market capitalization of $10.986 Billion and ranks 11th in the overall crypto market. It has a 24-hour volume of 575.74 Million with a 6.10% drop over the previous session.
Chainlink Crypto Price Action Analysis
Moreover, the daily chart shows a positive trend prevailing in the long term. The crypto is headed towards north forming higher highs and higher lows. Over the past few months the crypto has performed well and has delivered a good return to their Investors and traders.
The crypto surged higher rising from a low of $7.5 in October 2023 to a recent high of $20. The price action is positive which may help the crypto attain higher levels in the near term.
Currently, the price hovers near the $20 level and is consolidating. Fresh upside moves may be observed if the crypto breaks higher. The recent breakout on the upper side has dragged the sellers on the back foot.
From a technical perspective, the LINK price hovers above all the key EMAs suggesting a bullish outlook in the short term as well as long term. At the time of writing, the RSI line was at 64.2 points and SMA line was at 60.35 suggesting a positive outlook. RSI line has made a bullish crossover of the SMA line and is headed higher indicating the continuation of the trend.
Chainlink Price Prediction February 2024
The most optimistic view of analysts estimates that the LINK crypto may attain a high of $21.39 by the end of February 2024. However, the pessimistic aspect of analysts suggests that the price could drop below the 20-Day and 50-Day EMAs.
Chainlink Crypto Price Prediction 2024
The price forecast for the year 2024 is that the LINK token price could reach a high of $28.63, suggesting a potential gain of over 55.52% if the most positive conditions prevail. Moreover, the bearish outlook of the analysts pegs the price at $23.67 by the year-end.
Chainlink Price Prediction 2025
By the year 2025, the Chainlink price may attain $40.54 as the highest price on the positive side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $29.85.
