Chainlink Price Predictions: Is LINK Ready to ‘Moon’ During This Bull Cycle?
Check out why LINK’s valuation may head north in the near future.
TL;DR
- LINK’s price has recently dropped to around $15 but is expected to rally according to multiple analysts.
- Factors like negative exchange netflow suggest reduced selling pressure, indicating potential for significant value growth in the short term.
The Latest LINK Forecasts
Chainlink’s native cryptocurrency – LINK – was among the market’s top performers earlier this year. However, it has stalled its progress lately, with the price currently trading at around $15 (a 26% decline on a monthly scale).
According to multiple analysts, this level could be the starting point for a substantial rally in the following months. The X user Crypto Wolf placed LINK in the list of “mooners” for this bull run. Floki Inu (FLOKI), Polkadot (DOT), and NEAR Protocol (NEAR) are among the other leading altcoins finding a spot on the ranking.
SlumDOGE Millionaire – an analyst who frequently touches upon Dogecoin – claimed that LINK is one of the top “blue chip” cryptocurrencies as of the moment. Unsurprisingly, the biggest meme coin by market cap was placed first, while Cardano’s ADA and Solana’s SOL were included, too.
Another X user believes that Chainlink’s native token has 10x-20x price increase potential (the same as AVAX, INJ, SEI, ICP, HONEY, and KAS).
The Recent Trends
One factor hinting that LINK is poised for a rally in the short term is the asset’s exchange netflow, which has turned negative in the past two days (according to CryptoQuant).
Abandoning centralized exchanges and moving to self-custody methods is considered bullish since it reduces the immediate selling pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Economic Truth: AI Drives Growth Alone, Cryptocurrency Becomes a Political Asset
The article analyzes the current economic situation, pointing out that AI is the main driver of GDP growth, while other sectors such as the labor market and household finances are in decline. Market dynamics have become detached from fundamentals, with AI capital expenditure being key to avoiding a recession. The widening wealth gap and energy supply are becoming bottlenecks for AI development. In the future, AI and cryptocurrencies may become the focus of policy adjustments. Summary generated by Mars AI This summary was generated by the Mars AI model, and its accuracy and completeness are still in the process of iterative improvement.
AI unicorn Anthropic accelerates IPO push, taking on OpenAI head-to-head?
Anthropic is accelerating its expansion into the capital markets, initiating collaboration with top law firms, which is seen as an important signal toward going public. The company's valuation is approaching 300 billions USD, and investors are betting it could go public before OpenAI.
Did top universities also get burned? Harvard invested $500 million heavily in bitcoin right before the major plunge
Harvard University's endowment fund significantly increased its holdings in bitcoin ETFs to nearly 500 million USD in the previous quarter. However, in the current quarter, the price of bitcoin subsequently dropped by more than 20%, exposing the fund to significant timing risk.
The Structural Impact of the Next Federal Reserve Chair on the Cryptocurrency Industry: Policy Shifts and Regulatory Reshaping
The change of the next Federal Reserve Chair is a decisive factor in reshaping the future macro environment of the cryptocurrency industry.
Trending news
MoreCrypto prices
More
