Chainlink is one of the well-known cryptocurrencies that has seen significant growth since early 2021. Now it has a market cap of $12,044,781,503 and a circulating supply of 431,009,553.92 LINK. $934,189,255 worth of it have been traded in the last 24 hours. In this Chainlink price prediction and analysis, we will examine the price changes in the past and predict what the future holds for the asset.
Chainlink Price Prediction: Technical Analysis
Chainlink is definitely one of the top-performing digital assets this year. It rose in price to a new all-time high of over $52 before the recent crash that brought the entire market down. The price crashed by over 60% as a result of the market correction, although it has started to recover once again.
Though LINK started its journey to price recovery, the process has slowed down, and the trend has reversed significantly. The moving averages show this trend very clearly. The price has stagnated for some time, which makes the shorter time frame price drop below the longer time frame price.
The 20 MA has crossed below the 50 MA and even the 100 MA. This is a death cross and an indication of an impending massive selloff. Although the standard MAs used for this analysis are the 50 and 200 MA, the current trend for LINK gives a general idea of what is likely to happen should the current trend continue.
The relative strength index for the asset is currently at 45, suggesting that the price could drop further before a trend reversal. This may not necessarily be the case, and a reversal could happen before the RSI gets to 30, which is the typical oversold level where a trend reversal should happen.
The following are major resistance and support levels to keep in mind for those trading LINK. The levels are calculated by Walletinvestor:
- Resistance Level (R3): 35.890;
- Resistance Level (R2): 34.340;
- Resistance Level (R1): 33.258;
- Pivot Point: 31.708;
- Support Level (S1): 30.626;
- Support Level (S2): 29.076;
- Support Level (S3): 27.994.
Chainlink Price Prediction: Market Opinions
Market opinions give investors an idea of what the price of an asset is likely to do in the short or long term. The following are market opinions on Chainlink price prediction for June and for the rest of 2021.
Chainlink Price Forecast for June
Walletinvestor is bearish about LINK’s performance in June. Their Chainlink price prediction places the price at $16.019 in the next 14 days. The price could go as low as $10.499, while the maximum expected price could be $34.705.
|Date||Price||Min Price||Max Price|
This website is quite bullish about Chainlink in June. Their LINK price prediction is that it could reach a price of $19.79 at the end of the month. The lowest price for the month is $18.40, and the maximum price is $30.94.
Coinskid’s Chainlink price prediction for june is that it might reach as high as $33.48. The lowest for the month is $26.35, while the closing price for the month is expected to be $29.29.
Chainlink Price Prediction for the Rest of 2021
Longforecast’s LINK Price prediction for the end of 2021 is $25.06. The lowest price for this year is expected to be $13.00 in Augus, while the maximum expected price is $32.83 in June.
The price of LINK is anticipated to reach $47.7 by the end of December 2021, according to Digitalcoinprice‘ s LINK price prediction. The lowest price for the year is $39.3 in June, while the maximum is also the closing price for the year.
|Month||Average Price ($)||Change (%)|
|Jul 2021||$41.64 USD||45.24 %|
|Aug 2021||$45.94 USD||60.26 %|
|Sep 2021||$44.15 USD||54.01 %|
|Oct 2021||$46.38 USD||61.78 %|
|Nov 2021||$44.18 USD||54.1 %|
|Dec 2021||$47.7 USD||66.4 %|
This website expects the price of LINK to reach $146.319 by the end of 2021. According to their LINK price prediction, the least price for the rest of the year is the one for July at $111.15.
Cryptocurrency Experts and Influencers
Despite the current downward price trend of Chainlink, some crypto analysts believe that its long-term bullish trend is still intact. One of such analysts known as Smug Marine on Twitter stands by this position:
Latest News and Happenings Concerning LINK
Chainlink has recently been going into strategic partnerships with other blockchain projects. The partnerships include agri-focused projects, such as Agryo, which will be bringing its proprietary agricultural data on Chainlink.
The partnership also covers NFTs. Chainlink is collaborating with NFT Playground and Ether Cards to launch limited edition dynamic NFTs for NBA. The NFTs will be designed to evolve traits based on the arc of LaMelo’s basketball career. More of these partnerships and collaborations are likely to come in the near future, which could greatly impact the growth of Chainlink positively and, by extension, the price of LINK.
Chainlink Price Prediction: Verdict
Chainlink is currently in a strong bearish trend that may last longer than most expect, mainly because of the general market pullback. However, its strategic partnerships are likely to keep it afloat in the long run. Based on this Chainlink price prediction and analysis, now may not be the best time that chainlink has experienced recently, but it could be a valuable opportunity for investors to acquire the asset before the next leg up. This is, however, by no means financial advice, and investors should do their own research before investing in any digital asset.