Chainlink, a platform compatible with Ethereum and renowned for facilitating decentralized oracles, has been making significant progress. Currently, the native asset of the Chainlink network, LINK, is experiencing a trading range near $21 after surpassing the level recently.
According to the latest data from CoinGecko, LINK has risen by 7.6% in price in the last 24 hours. LINK is currently trading at $21.44. With LINK stagnating near the $21 level, can it hit $30 next?
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Can Chainlink hit $30?
Chainlink (LINK) has shown notable performance in January, with a 17.5% price increase in the past 30 days. Despite being significantly below its all-time high, the possibility of LINK reaching double-digit values has become more feasible.
Changelly’s cryptocurrency experts have provided their price predictions for Chainlink. They forecast LINK to reach a minimum of $19.38 and a maximum of $23.56 in March, with an average price of $21.47. By May 2025, the analysts predict that LINK could hit $30. However, it’s crucial to keep in mind that the cryptocurrency market can be unpredictable and subject to general market sentiment.
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Crypto trader Michaël van de Poppe has observed that Chainlink’s valuations remain low compared to Bitcoin. He suggests that the current technical position could potentially indicate the start of a bullish cycle for the crypto oracle project.
Poppe argues that as Bitcoin shows indications of a macro reversal, the pace for altcoins like LINK, which underperformed in early 2023, is likely to increase. Given that the current valuations are significantly lower than the peak cycle levels, he believes there is considerable potential for multiple exponential price movements.
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