Chainlink (LINK) crypto is currently up 10.7% since Bitcoin crossed the 200-week moving average on the 13th June 2022. Chainlink has now corrected 90% from it’s all time high of $52.9 which was set on the 10th May 2021.
At the time of writing this Chainlink is trading at an inexpensive $5.88. These price levels would have yielded over 1,000% capital gains prior to the crypto bull run of 2021.
Chainlink must now respect the $5.29 support level to avoid further depreciation in price. Why? This is where Chainlink bounced after the 12th May Terra (LUNA) crash and the 13th June Bitcoin crash.
Will these lower price levels offer huge potential gains in the future?
Cryptoassets are a highly volatile unregulated investment product.
Chainlink (LINK) Crypto Price Prediction 2022
Since the euphoric top of $52.9 Chainlink (LINK) crypto has been in a major downtrend and constantly breaking through critical support levels. The relative strength index on the weekly time-frame is also at record lows for Chainlink.
Chainlink is currently seeing continuous rejection of the 20-day moving average on the daily charts. It seems like we could be headed back down to retest the $5.29 support levels. If we retest this level and break down, the next potential swing low could take us to around the $5.10 level.
If we see a bullish reversal in the market or a relief rally, I would expect Chainlink to see an impulse wave to around $8.60-9.30. It would be very bullish if Chainlink can achieve $10 again this year.
According to Coinmarketcap Chainlink (LINK) is rank #21 in the cryptocurrency space. Despite bearish sentiments, LINK still has quite an impressive $2.75b marketcapital. There is definitely a lot of scope for long-term growth to regain previous market cap levels exceeding $20b.
With the integration of Chainlink staking releasing later this year, I would also imagine this will increase investor appetite and attract more long term holders.
In terms of long term price speculation, we can use the Fibonacci Extension to help us forecast prices in the next crypto bull run.
Let’s take a look at some Fibonacci extension levels to see pragmatic price targets for the future.
- 1.272 Fib level – $66.35.
- 1.414 Fib level – $73.17.
- 1.618 Fib level – $82.97.
Chainlink is an integral part of the blockchain ecosystem and they have a very promising roadmap for 2022 to help generate growth and increase efficiency of their project.
Many investors are speculating huge things for Chainlink. Some of the most bullish predictions are even over $100 by 2025.
Chainlink Price Predictions
Chainlink has recently been mentioned on Micahael van de Poppe’s Twitter page who is the CEO and Founder of Eight Global. Michael has massive belief in a positive future for Chainlink ecosystem.
What is Chainlink (LINK) Crypto?
Chainlink is a cryptocurrency which strives to greatly expand the capabilities of smart contracts. This is achieved by enabling access to real-world data and off-chain computation. Chainlink connects this data to smart contracts running on top of blockchains.
As of 2020, Chainlink has seeked to support all blockchain-based smart contract networks. Since the beginning of launching in 2017, the Chainlink team has exceeded expectations and delivered results based on their visions.
Cryptoassets are a highly volatile unregulated investment product.
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