Chainlink Price Prediction: 2024, 2025, 2030

LINK price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, $20 was observed to be the peak resistance level for LINK. 
• Meanwhile, the lowest support level was established at $5.

2. Market sentiment

• The market in June 2024 appears to be bearish on LINK.

3. Predictive forecasts

• Our AI/ML algorithms project LINK to trade at an average approximate price of $45 in 2028 and $90 in 2031.

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

LINK technical analysis: Are more declines on the horizon?

LINK's journey through the market has been marked by resilience and volatility. The asset's ups and downs laid the groundwork for Chainlink price prediction in 2024. At the outset, LINK saw a significant setback, losing its standing over the lowest yearly support at $5.

After swiftly reclaiming this level by late month, July witnessed a bullish rally that faced rejection at $8, with the asset bottoming out at the lowest floor by mid-August. In mid-September, LINK commenced its northbound journey, successfully turning $8 into support in mid-October. By November, the buying pressure propelled the price to a new resistance level of $16.

Attempts to flip this level spanned nearly three months, with declines halted at $12. The buyers’ efforts culminated in a breakout towards the end of January. Subsequently, the price approached the highest $20 resistance. After a month-long test in February, bulls briefly surged past this level in March. 

Nonetheless, this peak was cut short by mid-month as the price depreciated. Consecutive drops led LINK to retrace its steps back to $12 in early April. After briefly stabilizing, the price pumped again in mid-May and moved over $16, sparking renewed bullish sentiment in the market. AMBCrypto reported that increased whale and social activity in the market triggered this rally.

The market tides turned in bearish favor in June as the price plunged to its previous base again. At the time of writing, LINK exchanged hands at $13. AMBCrypto recently highlighted that the network issued 21 million tokens from its non-circulating reserves. 

Historically, releasing new tokens can lead to significant volatility for the associated asset. Typically, its value tends to decline shortly after that. Consequently, if selling pressure intensifies, the price can go as low as $10. A further fall below this critical mark would cause the asset to lose a double-digit valuation as it depreciates to $8.

Should LINK gain upward traction, the immediate objective would be to reclaim $16. Surpassing this target could position LINK for further value appreciation in the subsequent weeks. A persistent bullish momentum can potentially elevate its price to as high as $22 in the short to medium term. 
 

Our predictive models anticipate LINK to likely trade at an average price of $45 by 2028, bringing it closer to its all-time high (ATH). This projection suggests a remarkably bullish outlook for the asset over the long term, with further expectations that LINK will reach an average trading price of around $90 within the subsequent three years. 

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

• LINK’s trading volume closely tracked its price movements, with a significant recovery observed from October as the asset price surged. This was followed by a continuously receding volume that did not support the price rallies, highlighting a lack of substantial investor interest.
• The Chaikin Money Flow (CMF) briefly rose above the zero line in late June and mid-July before reverting to negative values. In mid-September, the indicator decisively crossed above the zero line and continued to register positive values until the end of the analysis, closing at 0.08. This was a notable decrease from its previous highs, indicating a significant reduction in buying pressure.
• The Relative Strength Index (RSI) moved past the 50 line between mid-July and early August and rose again in mid-September. The ascension led it into the overbought territory by late October. The RSI fell back by December, only to spike above 70 again in early to mid-February and then again in March. 
• Following the last peak, the indicator declined, dipping below the 50 line between early April and May. After briefly displaying bullish values, it fell below the 50 line in mid-June, standing at 45.93 at press time. This indicated a dominant bearish sentiment in the market.