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The Chainlink price pumped 20% in the last 24 hours to trade at $27.06 as of 11:13 p.m. EST on trading volume that dropped 12% to $2.6 billion.
The LINK price surged after news that World Liberty Financial (WLFI), a decentralized finance project promoted by President-elect Donald Trump and his family, has invested $1 million in Chainlink.
WLFI acquired 41,335 LINK tokens at $24.2 each and also invested in Ethereum (ETH) and Aave.
LINK has surged by 80% in the past month, and there’s no sign its momentum is slowing down. Analysts are also expressing optimism about the Chainlink price rising even higher. One such analyst, Clifton Fx, shared his prediction on X, saying that he sees LINK revisiting its all-time high of $50.
$LINK is ready for bullish rally📈#LINKUSDT #LINK #Crypto pic.twitter.com/GVFdr6rG0Y
— Clifton Fx (@clifton_ideas) December 9, 2024
Chainlink Price Could Still Soar
This LINK/USD (4-hour timeframe) chart displays a clear bullish trend over the recent period, punctuated by an ascending movement since mid-November. In early December, the price entered a rectangular consolidation (marked in purple), within the $25 range indicating a pause in the uptrend, according to data from GeckoTerminal.
Toward the right-hand side of the chart, LINK has completed a textbook rounding bottom pattern. This suggests a strong recovery after a brief downtrend, often interpreted as a bullish continuation pattern.
The 50-day Simple Moving Average (SMA) is acting as dynamic support and is currently at $24.32, while the 200-day SMA remains well below $18.28, indicating a robust long-term bullish trend.
The Relative Strength Index (RSI) is currently at 66.97, which is approaching the overbought zone (above 70). This suggests strong buying momentum but also signals a possible short-term cooldown as the price moves closer to overbought territory.
Meanwhile, the Moving Average Convergence Divergence (MACD) is in positive territory, with the MACD line crossing above the signal line and showing increasing histogram bars. This confirms bullish momentum and indicates that the uptrend is likely to continue in the short term.
LINK Price Prediction
Given the rounded bottom breakout, positive momentum in the MACD, and strong positioning above both the 50-day and 200-day SMAs, LINK is poised to continue its bullish trajectory.
In the short term, the next resistance lies around $30, a psychological level. If it breaches this level with sufficient volume, the Chainlink price could rally toward $32-$35, as the bulls target the $50 level in the long term.
However, RSI nearing overbought conditions suggests that LINK might face short-term consolidation or minor pullbacks, potentially testing support near $18 (previous resistance) or the 200-day SMA at $18.28 before continuing its ascent.
Meanwhile, investors are also piling into the presale of Best Wallet ($BEST), which crypto YouTuber ClayBro, with over 132K subscribers, says ”Could Be The Best Crypto Wallet Of 2025.”
The Best Crypto Wallet
Best Wallet’s presale has gained strong momentum since its launch, already raising more than $3.5 million. The project is a next-generation Web3 wallet offering a wide range of tools and utilities in one app.
A key feature of Best Wallet is the Upcoming Tokens portal. It gives users direct access to hot presales that users can research and buy before they become widely known.
No more missing out on early-stage #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
Download now! 👉 https://t.co/he5kzra7TY pic.twitter.com/ZcNZ1b6Up1
— Best Wallet (@BestWalletHQ) October 26, 2024
The meme coin Catslap ($SLAP), which was featured on the app, is up 6,200% after launch, cementing Best Wallet’s reputation as a go-to platform for uncovering hidden crypto gems.
Traders can also stake BEST tokens for a huge 785% annual percentage yield (APY).
$BEST is priced at $0.023075 right now. If you are interested, buy before a price hike in slightly more than a day.
Join the presale at the official BEST Token website here.
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Best Wallet - Manage Your Crypto
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