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Chainlink (LINK) Price Prediction 2023 (February 25)


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Chainlink is a crypto platform that enables and establishes connections between blockchain and non-blockchain platforms. Its purpose is to aid the connection between the blockchain’s smart contracts and external data (for instance, tokens’ prices).

Chainlink aims to incentivize computers’ global connection by providing reliable and real-world data to blockchain-driven smart contracts. This operation is facilitated by the platform’s native token, LINK. 

As a cryptocurrency, LINK is subject to the bullish and bearish trends of the crypto market. Comparing its past and present trends can help hint at LINK’s future performance.

Chainlink (LINK) Past and Present Trend

Chainlink joined the crypto market in 2017 with an ICO price of $0.11 and started trading at $0.1544. In no time, the asset began to experience its share of rises and falls in the market. 

By September 24, 2017, it dropped to $0.1306 (the first all-time low in 2017), after which it began to recover decently. It struck an all-time high of $0.6254 for the first time on December 24, 2017.

By 2018, the bears took over the market, causing the asset to drop drastically to $0.1663 by June 28, 2018, after recording a $1.3773 price increase on January 8. The fluctuations continued throughout 2019, where Chainlink traded at $0.2994 on January 2019, $3.70 on June 29, and back to $1.839 at the end of the year.

Throughout 2020, 2021, and 2022, Chainlink faced significant growth in value and dramatic fluctuations. However, its performance since the beginning of 2023 is quite bullish as the asset grew from $5.5690 on January 1 to $7.3876 on January 30, 2023. 

The crypto opened at $6.9516 on February 1 and later rose to $7.0061 in 12 days (February 12, 2023). By February 20, LINK was up to $8.0023, but today, February 25, it has retraced to $7.4567 with a 1.22% price decline. 

Chainlink (LINK) Price Prediction Based on Technical Indicators

Source: Tradingview

Chainlink’s retracement is considered a temporary pullback as crypto analysts forecast a possible price growth in the nearest future. Its Moving Average Convergence/Divergence (MACD) has moved under the signal line indicating a bearish trend. The bold histogram bar confirms LINK’s present bearish trend.

The Relative Strength Index (RSI) indicator displays possible price neutrality as the indicator is moving sideways on the daily chart.

Chainlink, LINK, is trading above its 50-Day and 200-Day Simple Moving Averages (SMA). Looking at the close call between the 50-Day and 200-Day SMA, there’s hope for short and long-term trades.

The support levels are $5.386, $6.201, and $6.517, while its resistance levels are $7.512, $8.533, and $9.480. Irrespective of the price drop today, Chainlink is trading near its $7.512 resistance level, indicating a bullish sentiment for the coming days, as the asset might beat the resistance.

Expert Long and Short-Term LINK Price Predictions

Crypto analytic experts often release seasonal price predictions for assets in the space. These predictions can be bullish or bearish and serve as hints for the future price outlook of the assets.

Many experts have released different price predictions for LINK in the years to come. Here are Chainlink’s (LINK) expert price predictions for 2023 to 2030.

Changelly Chainlink (LINK) Price Prediction

Changelly believe that Chainlink (LINK) might face some fluctuations throughout March but will increase in April with at least a 10.98% price increase by April 23. At the end of 2023, LINK should have a maximum of $10.96, a minimum of $9.42, and an average of $9.71.

Furthermore, Changelly predicts the maximum price of LINK from 2024 to 2023 to run from $16.72 to $159.87. The minimum price will also go from $14.33 to $133.21. During these years, LINK is also expected to trade at an average of $14.81 to $138.00.

Price Prediction Chainlink (LINK) Price Prediction

According to Price Prediction, LINK is expected to end the year with a maximum of $10.96, a minimum of $9.42, and an average of $9.71. Also, it’s expected to reach maximum prices of $16.72, $24.79, $36.38, $51.46, $74.86, $109.44, and $159.89 from 2024 to 2030, respectively. 

Its minimum prices during these years are expected to be around $14.33, $20.78, $29.90, $43.45, $62.50, $93.33, and $133.22, respectively. Also, LINK may trade at an average of $14.81, $21.52, $30.97, $45.00, $64.75, $95.92, and $138.01, respectively. 

Factors That Might Influence Chainlink (LINK) Price

The following are a few factors that might affect LINK’s future price

Whales sell-off of LINK tokens

Crypto whales may fix a substantial sell order by dumping sizable orders at low prices. This gives them control over the supply and demand of the tokens and causes price decline. If the crypto whales sell off their LINK tokens in huge quantities, the asset price may fluctuate or decline.

Investors sentiment

The crypto market is driven by its community sentiments. Investors’ perception of an asset can determine its price behavior. So, if investors believe the LINK tokens will have a long-term bearish run, there will be pullbacks. Meanwhile, a positive sentiment will drive the price forward.

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