• The Chainlink price has risen by 43% since the start of the year, and some analysts are predicting it will reach $10 in the near future.
• LINK’s chart is currently showing a ‚golden cross‘ that could indicate a breakout rally, while its relative strength index suggests increasing buying pressure.
• Supporters and community members believe that LINK is about to ‘explode’, although it is unclear what this could mean for its price.
Chainlink Price Update
The Chainlink price has dipped by 0.5% in the past 24 hours, falling to $8 as the cryptocurrency market declines by 1.5%. However, it has still increased by 12.5% in the past week and by 20% in the last 30 days, up by 43% since the start of the year.
LINK’s chart is currently in an encouraging position, with indications that it may be about to rally. Its 30-day moving average (red) has crossed over its 200-day average (blue), forming a ‚golden cross‘ which can suggest a breakout rally. Additionally, its relative strength index has risen from just under 50 to over 60, suggesting growing buying pressure that could continue gaining momentum for some time before being played out. If LINK can break through its resistance level of $8 then it may rise even further while consolidating at new levels.
Several experts have been forecasting that LINK will reach $10 in the coming weeks due to price momentum and increasing usage of Chainlink services. There is also speculation that its partnership with SWIFT could connect Chainlink’s decentralized oracle network with ten thousand banks – potentially leading to massive gains for LINK holders in the long run.
Members of the crypto community are convinced that LINK is on course for explosive growth – though no one knows precisely how much this could translate into terms of price appreciation yet.
Overall, there are several positive indicators suggesting that Chainlink could soon experience significant gains – whether these come from partnerships or organic growth remains to be seen however!