Chainlinks (LINK) Explosive Path: $41.55 Soon, $63 Next
- LINK Surges 25%: Chainlink rose 25% this week, marking a 100% gain in the past month.
- Whale Moves Fuel Optimism: $4.94M in whale purchases and $860M in open interest highlight investor confidence.
- Price Projections Vary: Analysts predict $34 short-term, with highs of $63.08 possible by February 2025.
Chainlink (LINK) continued its impressive run this week, climbing 25% over the last seven days. Over the past month, LINK has surged nearly 100%, sparking bold price predictions as whales load up.
Crypto analyst Alan Santana foresees LINK hitting $60 by years end, provided key levels are broken. Santana highlights immediate resistance at $32 and $35. Surpassing these could push LINK to $47, then $53, and finally $61. Such a move represents a 200% rally.
Not everyone shares Santanas optimism. Analyst Ali Martinez predicts a modest target of $34, conditional on LINK holding above $30.4. This aligns with Bitcoins rise, which reached $105,000 this week, lifting altcoins like LINK alongside it.
Chainlink Whale Activity and Metrics
Whale interest in LINK remains strong. On December 12, a whale wallet spent $4.94 million to acquire 175,424 LINK tokens. Whale buying coincided with LINK breaching $30, further driving momentum. Open interest in LINK futures also soared, reaching $860 million.
Despite these bullish signals, a 200% surge in the final two weeks of 2024 appears unlikely. Analysts at CoinCodex predict LINK will hit $41.55 by January 17, 2025, and an all-time high of $63.08 by February 21, 2025. This represents a 136.5% rally from current levels.
Chainlinks rise hinges on Bitcoins continued strength and broader altcoin momentum. While $60 remains a stretch for 2024, LINKs technical indicators and whale activity suggest it could hit fresh highs in early 2025.
Read more: https://www.tronweekly.com/chainlinks-explosive-path-41-55-soon-63-next/
Text source: TronWeekly
