Chainlink (LINK) has witnessed a healthy turnaround over the last day. LINK has rallied by 9.5% in the daily charts, 8.9% in the weekly charts, and 12.7% in the 14-day charts. This price prediction will dive deep into the details.
The asset continues to glow red in the monthly charts, falling 19.7% over the last 30 days.
Let’s look at how high LINK could go by the end of this month.
Also Read: Chainlink: LINK Forms Pattern That Could Trigger 27% Rally to $18
Why the Latest Turnaround?
LINK is probably following Bitcoin’s (BTC) lead. The original cryptocurrency has reclaimed the $61,000 level, and investor sentiment also seems to be high.
Also Read: Chainlink (LINK) Set to Surge: Will It Hit $12.10 Soon?
Investors and traders will most likely expect a dovish stance from the Federal Reserve. Many also anticipate the Fed cutting interest rates very soon, given that inflation in the US has cooled over the last few months and is inching closer to the central bank’s 2% target.
LINK Price Prediction for August-end, 2024
Changelly’s Prediction
According to the analysts at Changelly, Chainlink (LINK) may dip to the $10 level over the next week before climbing back to around current levels by the end of this month. Changelly predicts LINK to dip to $8.76 by the first week of September 2024.
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CoinCodex’s Prediction
CoinCodex researchers anticipate LINK’s price to consolidate over the next few days before rallying to $12.40 on Aug. 31, 2024. Reaching $12.40 from current price levels would translate to a rally of about 9.7%.
If BTC does not maintain its price, LINK’s price may correct over the next few days. The asset may also be correct if the Federal Reserve takes a hawkish economic stance, going against investor expectations.