Chainlink (LINK) Price Prediction 2023 — Will LINK Hit $20 Soon?
- Bullish LINK price prediction for 2023 is $9.521 to $19.502.
- LINK price might also reach $20 soon.
- Bearish LINK market price prediction for 2023 is $5.473.
In Chainlink (LINK) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about LINK to analyze the future movement of the cryptocurrency.
Chainlink (LINK) Current Market Status
Current Price
$7.12
24 – Hour Trading Volume
$359,587,295
24 – Hour Price Change
0.1% up
Circulating Supply
491,599,971
All – Time High
$52.70 (on May 10, 2021)
What is Chainlink (LINK)?
Chainlink (LINK) is the native cryptocurrency of the Chainlink network. It was launched as an ERC-20 token in September 2017. Chainlink is an open-source decentralized oracle network that integrates off-chain data with on-blockchain smart contracts.
Oracle networks generally work as an aggregator and a provider of real-world data to the blockchain ecosystem. The node operators of Chainlink are responsible for providing these off-chain data. Significantly, Chainlink operates with a proof-of-stake (PoS) consensus mechanism.
LINK tokens are sent as rewards to the node operators who provide data. Also, operators do stake these tokens to participate in the operating protocol.
Chainlink (LINK) Price Prediction 2023
Chainlink (LINK) holds the 23rd position on CoinGecko right now. LINK price prediction 2023 is explained below with a daily time frame.
A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal, and the prevailing direction of price action is sideways. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. When the price hits the top of the channel, sell your existing long position or take a short position. The difference between the other two is that a horizontal channel is characterized as having equal highs and lows.
Currently, Chainlink (LINK) is in the range of $6.98. If the pattern continues, the price of LINK might reach the resistance levels of $6.585, $7.834, & $11.089. If the trend reverses, then the price of LINK may fall to $5.535.
Chainlink (LINK) Support and Resistance Levels
The chart below shows the support and resistance levels of Chainlink (LINK).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Chainlink (LINK).
| Resistance Level 1 | $9.521 |
| Resistance Level 2 | $14.537 |
| Resistance Level 3 | $19.502 |
| Support Level | $5.473 |
The charts show that Chainlink (LINK) has performed a bullish trend over the past month. If this trend continues, LINK might run along with the bulls overtaking its resistance level at $19.502.
Accordingly, if the investors turn against crypto, the price of Chainlink (LINK) might plummet to almost $5.473, a bearish signal.
Chainlink (LINK) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Chainlink (LINK) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of LINK lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Chainlink (LINK) is shown in the chart above. Currently, LINK is in a bullish state. Notably, Chainlink’s (LINK) price lies above 50 MA (short-term), so it is completely in a upward trend. Therefore, there is a possibility of a reversal trend of LINK at any time.
Meanwhile, the relative strength index (RSI) of the Chainlink (LINK) is 66.35. This means that Chainlink (LINK) is nearly in an overbought sate. However, this means a major price reversal of LINK may occur in the upcoming days. So, traders need to trade carefully.
Chainlink (LINK) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Chainlink (LINK). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system also attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Chainlink (LINK). Currently, ADX of LINK lies in the range of 33.045, so it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Chainlink (LINK). RVI measures the constant deviation of price changes over a period of time. The RVI of LINK lies above 50, indicating high volatility. In fact, the RSI of Chainlink (LINK) is at 66.35, thus confirming a potential buy signal.
Comparison of LINK with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK).
From the above chart, we can interpret that the price changes of BTC, ETH, and LINK are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LINK also increases or decreases respectively.
Chainlink (LINK) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Chainlink (LINK) between 2024 and 2030.
Chainlink (LINK) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Chainlink (LINK) might probably attain $30 by 2024.
Chainlink (LINK) Price Prediction 2025
With several upgrades in the network, Chainlink (LINK) might enter a bullish trajectory. If the coin grabs the attention of major investors, LINK might rally to hit $40 by 2025.
Chainlink (LINK) Price Prediction 2026
If Chainlink (LINK) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, LINK would rally to hit $50.
Chainlink (LINK) Price Prediction 2027
If Chainlink (LINK) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, LINK would rally to hit $60.
Chainlink (LINK) Price Prediction 2028
If Chainlink (LINK) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, LINK would rally to hit $70.
Chainlink (LINK) Price Prediction 2029
Despite the trends in the highly-volatile crypto market, if Chainlink (LINK) holds up a strong stance as a better investment option for the next 6 years, it might drive significant price rallies. Thus, by 2029, LINK would hit $80.
Chainlink (LINK) Price Prediction 2030
If investors flock in and continue to place their bets on Chainlink (LINK), it would witness major spikes. LINK might hit $90 by 2030.
Conclusion
With continuous improvements in the Chainlink network, we can say that 2023 is a good year for LINK. For this reason, the bullish price prediction of Chainlink (LINK) in 2023 is $19.502. On the other hand, the bearish price prediction of Chainlink (LINK) price prediction for 2023 is $5.473.
Furthermore, with the advancements and upgrades to the Chainlink ecosystem, the performance of LINK would help to reach above its current all-time high (ATH) of $52.70 very soon. But, it might also reach $20 if the investors believe that LINK is a good investment in 2023.
FAQ
Chainlink (LINK) is the native cryptocurrency of the Chainlink network. It was launched as an ERC-20 token in September 2017. Chainlink is an open-source decentralized oracle network that integrates off-chain data with smart contracts.
2. Where can you purchase Chainlink (LINK)?
Chainlink (LINK) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, Z.B.COM, OKX, KuCoin, and FTX.
With the ongoing developments and upgrades within the Chainlink platform, LINK has a high possibility of reaching its ATH soon.
On September 02, 2021, Chainlink (LINK) reached its new all-time high (ATH) of $52.70
Chainlink (LINK) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Chainlink in the past few months, LINK is considered a good investment in 2023.
Chainlink (LINK) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Chainlink (LINK) will hit $20 soon.
Chainlink (LINK) price is expected to reach $30 by 2024.
Chainlink (LINK) price is expected to reach $40 by 2025.
Chainlink (LINK) price is expected to reach $50 by 2026.
Chainlink (LINK) price is expected to reach $60 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/chainlink-link-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
