Key takeaways:
- Chainlink could reach a maximum value of $12.26 in 2024.
- By 2027, LINK could reach a maximum price of $47.49.
- In 2030, Chainlink will range between $109.70 to $137.63.
Chainlink (LINK) has emerged as a prominent player in the cryptocurrency market. It provides a decentralized oracle network that connects smart contracts with real-world data. As the adoption of decentralized finance (DeFi) and blockchain technology continues to grow, Chainlink’s innovative solutions have attracted significant attention from investors and developers alike.
Chainlink continues to expand its reach and utility across the blockchain ecosystem, showcasing its robust integration capabilities. Recent updates highlight 14 new integrations of 5 Chainlink services across 10 different blockchain platforms, including prominent names like Arbitrum, Avalanche, and Ethereum. These integrations not only enhance Chainlink’s network but also solidify its position as a critical player in the interoperability and functionality of decentralized applications.
Understanding Chainlink’s potential price movements involves analyzing market trends, technological advancements, partnerships, and overall market sentiment. This chainlink price history prediction aims to provide insights into Chainlink’s future performance by examining both technical analysis and fundamental aspects that could influence its value.
Overview
| Cryptocurrency | Chainlink |
| Token | LINK |
| Price | $12.20 |
| Market Cap | $7,650,288,111 |
| Trading Volume | $262,770,639 |
| Circulating Supply | 626,849,970 LINK |
| All-time High | $52.88 May 09, 2021 |
| All-time Low | $0.1263 Sep 23, 2017 |
| 24-hour High | $12.28 |
| 24-hour Low | $11.78 |
Chainlink price prediction: Technical analysis
| Metric | Value |
| Price prediction | $13.41 (12.17%) |
| Volatility | 7.22% |
| 50-day SMA | $11.16 |
| 14-day RSI | $11.16 |
| Sentiment | Neutral |
| Fear & Greed Index | 61 (Greed) |
| Green days | 17/30 (57%) |
| 200-day SMA | $14.92 |
Chainlink (LINK) price analysis: Bearish momentum puts LINK at risk of further decline
Key takeaways
- Chainlink price analysis shows a stable recovery near $10.60 despite an earlier decline.
- LINK faces bearish momentum with resistance at $10.68 and risks a drop to $9 if support fails.
- On-chain data indicates traders are mainly shorting, with 54.84% holding short positions.
Chainlink price analysis on October 10th shows that Chainlink (LINK) is trading at around the $10.60 level, slightly recovering 0.74% in the last 24 hours. However, the price decline earlier in the week and decreased trading volume by 19% indicate reduced market participation from traders. The recent bearish trend in LINK is concerning, as the token continues to struggle to break above critical resistance levels while facing mounting selling pressure. The market appears to digest the recent adverse price action, triggering caution among traders and investors.
Over the past few days, LINK has formed a bearish head-and-shoulders pattern on the daily chart, a well-known reversal pattern that suggests further downside risk. Completing this formation could signal that LINK is headed for a significant price drop if crucial support levels are breached.
Daily chart analysis: LINK critical support levels threatened
Technical analysis of LINK reveals a bearish head-and-shoulders formation on the daily time frame, which is an ominous sign for the asset. LINK has already broken below its crucial descending trendline support, which has been intact since August 2024. The price is now testing key support around the $10.30 level, and should it close below this on the daily chart, the bearish pattern may be confirmed. If LINK breaches the neckline of the head-and-shoulders pattern, it could experience further downside, with the next target being the $9 level, representing a potential 13% decline from current prices.
On the daily chart, LINK is trading below the 200 Exponential Moving Average (EMA), a significant indicator for many traders that suggests the overall market trend is bearish. As the price continues to trade below this long-term average, it signals that LINK is in a downtrend, making it difficult for bulls to regain control. Traders often monitor the 200 EMA closely, and as long as LINK stays below it, the bearish sentiment is likely to persist.
The Relative Strength Index (RSI) is at 49.96, which is neutral but leaning toward a bearish bias. Additionally, the Moving Average Convergence Divergence (MACD) histogram shows increasing negative momentum, with the MACD line remaining below the signal line. This further supports the case for potential downside in the short term.
Chainlink 4-hour chart analysis: LINK struggles to hold critical levels
On the 4-hour chart, Chainlink (LINK) trades at approximately $10.61, with the price oscillating below the 20-period Exponential Moving Average (EMA) at $10.68, which currently acts as resistance. The inability to break above the EMA in recent sessions indicates bearish sentiment, with LINK struggling to gain upward momentum. LINK attempted to recover over the past few trading periods but faced consistent selling pressure, leading to its current downward trajectory.
The MACD indicator reflects this bearish momentum, with the MACD line at -0.176, remaining below the signal line at -0.143. The histogram also shows red bars, signaling that the bearish trend must still be exhausted. Selling pressure remains evident as the price attempts to hold support around the $10.50 mark. If LINK fails to break above the EMA and sustain higher levels, it could face further downside risks in the short term. Traders will watch for a potential bounce from support or a more profound correction below $10.50 in the coming sessions.
The on-chain data provided by Coinglass further reinforces Chainlink’s bearish outlook. LINK’s Long/Short ratio currently stands at 0.82, indicating that traders are predominantly betting on further price declines. This is supported by an increase in open interest, which has risen by 5.2% in the past 24 hours. An increase in open interest alongside a long/short ratio below 1 typically signals that more traders are taking short positions, anticipating a further price drop.
Currently, 54.84% of top traders hold short positions, while 45.16% are long, highlighting the market’s bearish sentiment. The growing short interest adds to the selling pressure, making it challenging for LINK to find significant bullish momentum soon.
Chainlink technical indicators: levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 11.72 | BUY |
| SMA 5 | $ 12.03 | BUY |
| SMA 10 | $ 11.85 | BUY |
| SMA 21 | $ 11.58 | BUY |
| SMA 50 | $ 11.16 | BUY |
| SMA 100 | $ 12.04 | BUY |
| SMA 200 | $ 14.92 | SELL |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 11.38 | BUY |
| EMA 5 | $ 11.11 | BUY |
| EMA 10 | $ 10.84 | BUY |
| EMA 21 | $ 10.98 | BUY |
| EMA 50 | $ 11.96 | BUY |
| EMA 100 | $ 13.16 | SELL |
| EMA 200 | $ 13.94 | SELL |
Is Chainlink a good investment?
Chainlink represents a robust investment opportunity due to its pivotal role in linking external data to blockchains through its decentralized oracle network, which is crucial for the functionality of smart contracts, especially in DeFi. Its strategic collaborations with major blockchain platforms and traditional finance entities, such as Coinbase Cloud, enhance its reliability and expand its use cases across various industries. This interoperability and the essential nature of its services position Chainlink as a key player in the blockchain ecosystem, making it an attractive option for investors looking for growth potential in the cryptocurrency market.
Will Chainlink recover?
Chainlink’s price has declined recently, with minor short-term recoveries; however, the move is gradual. The general trend remains bearish as it seeks support.
Will Chainlink reach $50?
Chainlink current price shows a decline with some stabilization, predicting whether Chainlink will reach $50 in price predictions the year 2028.
Will Chainlink reach $100?
Chainlink can reach $100 in the year 2030 in price predictions.
Does Chainlink have a good long-term future?
Chainlink shows some stabilization and potential for recovery, indicating the token may have a promising long-term future.
Recent news/opinion on Chainlink
- Chainlink partners with Swiss firm Taurus and ANZ Bank to enhance tokenized assets using Data Feeds and Proof of Reserve, attracting strong interest from smart money investors.
- Chainlink unlocks 18.75M LINK tokens, injecting bullish momentum as BNB crosses $600 and traders eye Lunex Network presales.
Chainlink price prediction October 2024
According to experts, Chainlink’s market price in October will remain stable at around the $12.00 level,with key support at $11.13. Heading into the final quarter of 2024, Chainlink (LINK) is positioned for a bullish price trajectory, with projections of stability around $14.54 in October but the potential to climb beyond the average forecast of $12.84. Driven by its essential role in providing secure data to smart contracts ts across various blockchains and bolstered by the expanding DeFi sector, LINK’s demand is likely to increase.
| Chainlink Price Prediction | Potential Low | Average Price | Potential High |
| Chainlink price prediction October 2024 | $11.13 | $12.84 | $14.54 |
Chainlink price prediction 2024
The Market price for LINK is expected to reach a maximum of $14.26 by Q4 of 2024. However, traders can expect a minimum trading price of $13.02 and an average price of $13.63.
Technical indicators and market resilience suggest a strong base above $12.00, enabling it to challenge and possibly surpass previous resistance levels. If the broader crypto market’s positive sentiment continues and Chainlink secures more strategic partnerships, LINK could potentially test highs towards $15.00 and above, significantly outperforming current expectations and marking a notable close to the year.
| Chainlink Price Prediction | Potential Low | Average Price | Potential High |
| Chainlink price prediction 2024 | $13.02 | $13.63 | $14.26 |
Chainlink price prediction 2025-2030
| Year | Minimum | Average | Maximum |
| 2025 | $18.37 | $19.05 | $22.38 |
| 2026 | $26.64 | $27.41 | $32.03 |
| 2027 | $38.33 | $39.43 | $47.49 |
| 2028 | $55.33 | $57.30 | $65.37 |
| 2029 | $80.15 | $82.45 | $96.66 |
| 2030 | $109.70 | $113.00 | $137.63 |
Chainlink price prediction 2025
In 2025, Chainlink is expected to reach a maximum value of $22.38, a minimum price of $18.37, and an average value of $19.05.
Chainlink price prediction 2026
In 2026, LINK’s Average price is expected to be $27.41. its minimum and maximum trading prices are predicted to be $26.64 to $32.03, respectively.
Chainlink price prediction 2027
The price of Chainlink is predicted to reach a minimum level of $38.33 in 2027. The Chainlink price can reach a maximum level of $47.49, with an average chainlink price of $39.43.
Chainlink price prediction 2028
The Chainlink price prediction for 2028 suggests a minimum price of $55.33 in 2028, a maximum price of $65.37, and an average forecast price of $57.30.
Chainlink price prediction 2029
In 2029, Chainlink is expected to reach a maximum value of $96.66, a minimum price of $80.15, and an average value of $82.45.
Chainlink price prediction 2030
The price of Chainlink is predicted to reach a minimum value of $109.70 in 2030. Investors can anticipate a maximum price of $137.63 and an average trading price of $113.00 if the bulls hold position.
Chainlink market price prediction: Analysts’ LINK price forecast
Cryptopolitan’s Chainlink price prediction
According to our Chainlink price forecast, the coin’s market price might reach a maximum value of $4.26 by the end of 2024. In 2026, the value of LINK could surge to a maximum prices in the $30 region.
Chainlink’s historic price sentiment
Chainlink, launched in September, and it initially traded at around $0.20.In 2018,the token saw moderate growth, with market cap occasionally spiking, but generally stayed under $1.00 for most of the year.
- In 2019 significant growth occurred, with LINK’s price reaching $1.00 in May and peaking at approximately $3.00 by the end of the year. This was driven by increased recognition of its utility in providing secure and reliable data feeds for smart contracts.
Rapid Growth and Volatility (2020-2021)
- 2020: A standout year, LINK started around $2.00, surging to $20 by August, catalyzed by the explosive interest in DeFi applications, where Chainlink’s oracles were crucial.
- 2021: The price reached an all-time high of around $52 in May, driven by continued DeFi expansion and broader crypto market rallies. However, it later experienced significant volatility, dropping back down to around $22 by mid-year.
Correction and Stabilization (2022-2023)
- 2022: The market correction affected LINK as well, with prices mostly ranging between $15 and $25, reflecting the broader downturn in cryptocurrency markets.
- 2023: A further decrease saw prices stabilize in a lower range of $6 to $13 throughout the year, as the market adjusted and investor sentiment cooled off.
Current Chainlink price Performance (2024)
- The year began with LINK priced around $15, with a temporary spike to about $18 in early months. In 2024, Chainlink (LINK) exhibited significant volatility, opening the year around $15 and briefly surging to $18 in February.
- The momentum could not be sustained, and by April, the price had declined to around $12 amidst broader market corrections.
- Throughout the middle of the year, LINK’s price fluctuated, peaking again near $15 in May before a gradual descent took it to lows near $10 by August.
- As of September, the cryptocurrency has shown signs of stabilization, albeit in a lower trading range just below $11.
- As of October 2024, LINK is ranging between $10-$12.28 level.
