Chainlink (LINK) Price Prediction 2023 — Will LINK Hit $20 Soon?

Chainlink (LINK) Price Prediction 2022 — Will LINK Hit $30 Soon?
  • Bullish LINK price prediction for 2023 is $9.521 to $19.502.
  • LINK price might also reach $20 soon.
  • Bearish LINK market price prediction for 2023 is $5.473.

In Chainlink (LINK) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about LINK to analyze the future movement of the cryptocurrency.

Chainlink (LINK) Current Market Status

Current Price $7.12
24 – Hour Trading Volume $359,587,295
24 – Hour Price Change 0.1% up
Circulating Supply 491,599,971
All – Time High $52.70 (on May 10, 2021)  
LINK Current Market Status (Source: CoinGecko)

What is Chainlink (LINK)?

Chainlink (LINK) is the native cryptocurrency of the Chainlink network. It was launched as an ERC-20 token in September 2017. Chainlink is an open-source decentralized oracle network that integrates off-chain data with on-blockchain smart contracts.

Oracle networks generally work as an aggregator and a provider of real-world data to the blockchain ecosystem. The node operators of Chainlink are responsible for providing these off-chain data. Significantly, Chainlink operates with a proof-of-stake (PoS) consensus mechanism. 

LINK tokens are sent as rewards to the node operators who provide data. Also, operators do stake these tokens to participate in the operating protocol.

Chainlink (LINK) Price Prediction 2023

Chainlink (LINK) holds the 23rd position on CoinGecko right now. LINK price prediction 2023 is explained below with a daily time frame.

LINK/USDT Horizontal Channel Pattern (Source: Tradingview)

A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal, and the prevailing direction of price action is sideways. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. When the price hits the top of the channel, sell your existing long position or take a short position. The difference between the other two is that a horizontal channel is characterized as having equal highs and lows.

Currently, Chainlink (LINK) is in the range of $6.98. If the pattern continues, the price of LINK might reach the resistance levels of $6.585, $7.834, & $11.089. If the trend reverses, then the price of LINK may fall to $5.535.

Chainlink (LINK) Support and Resistance Levels

The chart below shows the support and resistance levels of Chainlink (LINK).

LINK/USDT Support and Resistance Levels (Source: TradingView)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Chainlink (LINK).

Resistance Level 1$9.521
Resistance Level 2$14.537
Resistance Level 3$19.502
Support Level$5.473
LINK Support and Resistance Levels

The charts show that Chainlink (LINK) has performed a bullish trend over the past month. If this trend continues, LINK might run along with the bulls overtaking its resistance level at $19.502.

Accordingly, if the investors turn against crypto, the price of Chainlink (LINK) might plummet to almost $5.473, a bearish signal.

Chainlink (LINK) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Chainlink (LINK) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of LINK lies below the cutoff line, indicating weak participants in the current trend.

LINK/USDT RVOL, MA, RSI (Source: TradingView)

Also, the Moving Average (MA) of Chainlink (LINK) is shown in the chart above. Currently, LINK is in a bullish state. Notably, Chainlink’s (LINK) price lies above 50 MA (short-term), so it is completely in a upward trend. Therefore, there is a possibility of a reversal trend of LINK at any time.

Meanwhile, the relative strength index (RSI) of the Chainlink (LINK) is 66.35. This means that Chainlink (LINK) is nearly in an overbought sate. However, this means a major price reversal of LINK may occur in the upcoming days. So, traders need to trade carefully. 

Chainlink (LINK) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Chainlink (LINK). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system also attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

LINK/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Chainlink (LINK). Currently, ADX of LINK lies in the range of 33.045, so it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Chainlink (LINK). RVI measures the constant deviation of price changes over a period of time. The RVI of LINK lies above 50, indicating high volatility. In fact, the RSI of Chainlink (LINK) is at 66.35, thus confirming a potential buy signal.

Comparison of LINK with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK).

BTC Vs ETH Vs LINK Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price changes of BTC, ETH, and LINK are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LINK also increases or decreases respectively.

Chainlink (LINK) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Chainlink (LINK) between 2024 and 2030.

Chainlink (LINK) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses, Chainlink (LINK) might probably attain $30 by 2024.

Chainlink (LINK) Price Prediction 2025

With several upgrades in the network, Chainlink (LINK) might enter a bullish trajectory. If the coin grabs the attention of major investors, LINK might rally to hit $40 by 2025. 

Chainlink (LINK) Price Prediction 2026

If Chainlink (LINK)  sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, LINK would rally to hit $50.  

Chainlink (LINK) Price Prediction 2027

If Chainlink (LINK) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, LINK would rally to hit $60. 

Chainlink (LINK) Price Prediction 2028

If Chainlink (LINK) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, LINK would rally to hit $70. 

Chainlink (LINK) Price Prediction 2029

Despite the trends in the highly-volatile crypto market, if Chainlink (LINK) holds up a strong stance as a better investment option for the next 6 years, it might drive significant price rallies. Thus, by 2029, LINK would hit $80.

Chainlink (LINK) Price Prediction 2030

If investors flock in and continue to place their bets on Chainlink (LINK), it would witness major spikes. LINK might hit $90 by 2030.

Conclusion

With continuous improvements in the Chainlink network, we can say that 2023 is a good year for LINK. For this reason, the bullish price prediction of Chainlink (LINK) in 2023 is  $19.502. On the other hand,  the bearish price prediction of Chainlink (LINK) price prediction for 2023 is $5.473.

Furthermore, with the advancements and upgrades to the Chainlink ecosystem, the performance of LINK would help to reach above its current all-time high (ATH) of $52.70 very soon. But, it might also reach $20 if the investors believe that LINK is a good investment in 2023.

FAQ

1. What is Chainlink (LINK)?

Chainlink (LINK) is the native cryptocurrency of the Chainlink network. It was launched as an ERC-20 token in September 2017. Chainlink is an open-source decentralized oracle network that integrates off-chain data with smart contracts.


2. Where can you purchase Chainlink (LINK
)?

Chainlink (LINK) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, Z.B.COM, OKX, KuCoin, and FTX.

3.  Will Chainlink (LINK) reach a new ATH soon?

With the ongoing developments and upgrades within the Chainlink platform, LINK has a high possibility of reaching its ATH soon.

4.  What is the current all-time high (ATH) of Chainlink (LINK)?

On September 02, 2021, Chainlink (LINK) reached its new all-time high (ATH) of  $52.70

5.  Is Chainlink (LINK) a good investment in 2023?

Chainlink (LINK) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Chainlink in the past few months, LINK is considered a good investment in 2023.

6. Can Chainlink (LINK) reach $20?

Chainlink (LINK) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Chainlink (LINK) will hit $20 soon.

7.  What will be Chainlink (LINK) price by 2024?

Chainlink (LINK) price is expected to reach $30 by 2024.

8. . What will be Chainlink (LINK) price by 2025?

Chainlink (LINK) price is expected to reach $40 by 2025.

9. What will be Chainlink (LINK) price by 2026?

Chainlink (LINK) price is expected to reach $50 by 2026.

10.  What will be Chainlink (LINK) price by 2027?

Chainlink (LINK) price is expected to reach $60 by 2027.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.