Chainlink Price Prediction: 2024, 2025, 2030

LINK price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, $20 acted as the highest resistance level for LINK. 
• The lowest support level was observed at $5.

2. Market sentiment

• The market in August 2024 is bearish on LINK.

3. Predictive forecasts

• Our AI/ML models forecast that the average price of LINK will be over $25 in 2029 and  $60 in 2035.

Stay updated on LINK’s prospects via an extensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

LINK technical analysis: Can the bulls halt incoming losses? 

LINK's journey between August 2023 and August 2024 was marked by resilience and volatility. This has laid the roadmap for analyzing the Chainlink price prediction in 2024. The period began with the asset plunging to the lowest yearly support of $5 in mid-August.
 

The onset of a bullish rally in mid-September carried LINK over $8 by mid-October, albeit with a brief preceding struggle. Furthermore, it was challenging a high of $16 by November. Repeated tests of this level lasted around three months.

Meanwhile, the asset held $12 as a base to hold off declines amid this range-bound price action. The buyers’ efforts culminated in a bullish breakout by the end of January. Following this, the price challenged the highest barrier at $20. 

After a month-long test, bulls briefly moved over it in March. Nonetheless, investors started realizing profits, dragging the price below. The broader market crash in April amplified the downturn, returning LINK to $12.

After a brief stabilization, the price surged in mid-May, surpassing $16 and reigniting bullish sentiment in the market. AMBCrypto attributed this rally to heightened whale activity and increased social engagement.

However, this wasn’t enough to counter the predominant selling sentiment. Thus, the market turned red in June. Furthermore, the release of 21 million tokens exacerbated the downward pressure, with the asset retracing to the previous support by July.
 

AMBCrypto noted that LINK's historical tendency to attract whales during price volatility was reaffirmed, as evidenced by significant exchange withdrawals. Additionally, the number of token holders increased, catalyzing a recovery mid-month.

Nevertheless, this rise was cut short, and the asset hit 2024 lows in August as it landed on $9. It traded at $10 by the analysis’ end.

How high/low can LINK go in 2024?

AMBCrypto's analysis noted that LINK traded within a bearish pennant on the daily chart. This indicated a potential downtrend continuation if it broke below $10. Furthermore, if the current support is breached on the weekly chart, the price can fall further to $8, with the next downside target at the lowest support.
 

Meanwhile, Chainlink recently integrated four of its services across 12 blockchain networks. This surge in adoption and progress in expansion were promising for investors with a longer time horizon. If LINK gains upward traction, a successful breach above $11 in the shorter time frame would invalidate the previous bearish prediction. 

Subsequently, the next target will be to reclaim $12. This move can open the way to challenging and overcoming $16. Persistent bullish momentum could potentially elevate its price to the highest resistance within 2024.

Our predictive models project LINK to likely trade at an average price of $25 by 2029. This projection indicates the asset would be able to surpass its all-time high (ATH) by 2035, with expectations for LINK to average $60.

LINK's 2024 roadmap: Key indicators to watch and trade

• The Chaikin Money Flow (CMF) shifted above the zero line in mid-September. It maintained positive readings until press time, closing at 0.08. This marked a significant drop from its earlier peaks, signaling a substantial decrease in buying pressure.
• An observation of the Directional Movement Index (DMI) revealed that the +DI line remained on top until December, except for a brief dip below the -DI line from mid-August to mid-September. 
• The ADX line rose from its submissive position in mid-September and overtook the descending -DI and +DI lines in mid-October and mid-December, respectively. However, the former rose again and moved over the latter in April. 
• After a brief drop in mid-May, the -DI line asserted dominance over the +DI and ADX lines in June. As the analysis concluded, the -DI line stood at 30.2163, the ADX line at 22.5344, and the +DI line at 15.1067, indicating a strong bearish trend.
• The trading volume recovered from October as the asset price surged. After that, it receded continuously, highlighting a lack of substantial investor interest.