Chainlink Price Prediction 2021 – Will LINK Hit $52.5 Soon?

Chainlink Price Prediction 2021 – Will LINK Hit $52.5 Soon?
  • Bullish LINK price prediction ranges from $28.8 to $44.63.
  • The LINK price might also reach $52.5 soon.
  • LINK bearish market price prediction for 2021 is $7.47.

In Chainlink (LINK) price prediction 2021, we use statistics, price patterns, ADX, and much other information about LINK to analyze the future movement of the cryptocurrency.

Chainlink is a blockchain-based cryptocurrency network. Chainlink provides a link between real-world and smart contracts. The multiple subcontracts can be generated in Chainlink, also takes data from only the most trusted nodes and oracles for premium accuracy.

Moreover, LINK is the digital belonging token used to pay for services on the Chainlink network. LINK can be bought and sold for traditional currency or other digital currencies. Through cryptocurrency exchange, LINK can be purchased and can be stored in a crypto wallet and custodian like Gemini.

According to CoinGecko, the Chainlink price is trading at $31.03 with a 24-hour trading volume of $2,185,279,061, at the time of writing. However, LINK has increased by 7% in the last 24 hours.

Currently, LINK trades in cryptocurrency exchanges such as Binance, Huobi Global, Coinbase Pro, Gate.io, and Kraken.

LINK price prediction 2021 is explained below in the weekly time frame.

LINK/USDT Descending Triangle Pattern (Source: TradingView)

A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It is a sign for traders in a short position to accelerate a breakdown. Among the traders descending triangle is a very popular chart pattern because it clearly shows the demand for an asset.

Currently, LINK is trading at $26.38. After this, LINK may continue to fall or rise according to the direction of breakout. With this pattern, LINK might reach the resistance level at $52.5 soon, if the trend breaks out at the first resistance level of $36.4. If the trend reverses, then the price of LINK may fall to $12.2.

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

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

From the above time frame, without any doubt, the following are the resistance and support levels of LINK.

  • Resistance Level 1 – $28.8
  • Resistance Level 2 – $36.03
  • Resistance Level 3 – $44.63
  • Support Level 1 – $19.85
  • Support Level 2 – $12.8
  • Support Level 3 – $7.47

The charts indicate that LINK shows bullish performance over the past month. However, if the trend continues, LINK might run along the bulls overtaking its resistance level at $44.63. In contrast, if the investors turn against the crypto, the price LINK might plummet to almost $7.47, a bearish signal.

Now let us focus on the Average Directional Index (ADX) of LINK. Notably, the ADX helps traders to identify the strength of a trend rather than its original direction. More so, it can use to determine whether the market is changing or a new trend starts. However, it integrated with the Directional Movement Index (DMI).

Even more, the range of the oscillator is from 0 to 100. Added to this, the strong trend and weak trend are indicated by high and low value. Moreover, it mostly combined with directional indicators.

LINK/USDT ADX(Source: TradingView)

The above chart shows the ADX of LINK. Currently, the ADX stays above the range of 15.04, so it specifies a weak  trend.

Conclusion

Among many, the LINK is one of the cryptos that keeps its ground against a bearish market. Furthermore, our long-term LINK price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $52.70 this year. However, this will only occur if it breaks many past psychological resistances.

Furthermore, with the ongoing development and upgrades within the LINK ecosystem, it could experience a great future ahead in 2021. It may reach $44.63 soon and it might even reach heights, however reaching $52.5, if investors have planned that LINK is a good investment in 2021.

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

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