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Chainlink Price Prediction 2022 – Will Chainlink See a New All-Time High?

LINK crypto price prediction
LINK crypto price prediction

The crypto space continues to expand further, with new and exciting projects that aim to bridge the gap between traditional finance and crypto finance. Chainlink is one such project that aims to bring interoperability to the blockchain sector by enabling the seamless flow of real-world data to blockchain networks. 

Chainlink integrations feed into thousands of DeFi applications, with the protocol becoming the second most value-securing form of decentralised consensus across the DeFi economy. 

Chainlink’s native token, LINK, experienced a price reversal in mid-December from a previous low of $17.73 to $19.91 on December 16, 2021. The price of LINK has been on the uptrend ever since.

Find out how to trade Chainlink, even if the price goes up or down using CFD trading on cryptocurrencies. Continue reading to learn what supports the price of LINK and discover the latest Chainlink price prediction for 2022. 

What is Chainlink?

Chainlink is a decentralised protocol that allows smart contracts to interact securely with off-chain data sources through the use of decentralised oracles. 

A decentralised oracle facilitates communication between crypto networks and an off-chain system, including web APIs, data providers, cloud providers, enterprise backends, payment systems, IoT devices, and more. 

Blockchain networks, due to their strong security properties brought about by distributed consensus mechanisms, are unable to natively pull or push data to any external off-chain resource. Chainlink oracles connect these networks to the accelerating data and API economy in furtherance of the development of ‘hybrid’ smart contracts. 

Chainlink oracles surpassed over $75 billion in total value secured (TVS) in 2021, representing a 10x increase from the year 2020. Because of the integration of off-chain data, the protocol has attracted the attention of several trusted data providers and global enterprises, including Google cloud platform, AccuWeather, Amazon Web Services, etc. 

Chainlink (LINK) moved up to an intraday high price of $27.75 on January 9, 2022. This was its highest peak since a hike on November 10, 2021, took the price up to $37.75. 

The cryptocurrency’s all-time high price occurred during the crypto rally in May 2021, when the price reached $52.20.

Where to Trade Chainlink Crypto CFDs?

Crypto CFDs offer you a chance to make a profit by speculating on the future price movements of a digital asset without owning the underlying asset. 

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In this scenario, a trader doesn’t own the underlying cryptocurrency but instead owns a contract for difference (CFD) that tracks the price movements of the digital asset. Crypto CFDs allow traders to seamlessly bet on the price of a cryptocurrency going up or down while using leverage to boost potential returns. 

You can trade Chainlink CFDs through a trusted and regulated online broker like Axi, who offer 11 different cryptocurrencies as a Contract for Difference.

To start trading LINK on Axi, you will have to register for a trading account. You will need to provide personal details (including your name, email address, and country), your ID number, and a phone number. 

Once you have verified your account you can proceed to fund your account and start trading. You can also sign up for a demo account and receive $50,000 in virtual cash to practice the way you want. 

Chainlink Price Prediction for 2022

Short-term technical analysis reveals that the price of LINK is on the rise. Moreover, on-chain metrics suggest that there are no significant barriers to this uptrend. 

For the past six months, LINK has been trading between a range of $13.54 to $38.15. The recent decline in November caused the cryptocurrency to lose significant value from its most recent peak of $38.15. However, LINK’s fortunes improved and experienced an uptrend of almost 36 percent gain to where the cryptocurrency now trades at $24.89, from the previous low of $18.22 on December 15, 2021. 

Looking at the LINK/USD chart, we can see that the price has dropped below its 9-day moving average (MA) while the MACD looks like it’s about to move through the signal line from top to bottom, which suggests we mave be in for a price decline before the digital asset starts to rally again. 

Price of Chainlink

Should the price of LINK hold the psychologically important resistance level of $25, we may see a continuance of last year’s LINK rally to reach new 2022 highs of over $34.

Chainlink price prediction 2022

So, is Chainlink a Good Investment?

While the value of LINK will inevitably be driven largely by the overall crypto market sentiment, Chainlink is poised to continue its positive price development of last year, given how successful the project has been. 

Despite potential short-term price retractions due to the crypto market’s overall performance, Chainlink’s on-chain metrics have never looked stronger, suggesting that we can expect more positive news flow coming out of the Chainlink ecosystem that could push the price to a new 2022 high of $34 or more. 

The information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

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