Chainlink (LINK) Price Analysis and Prediction

The altcoin has been sailing the more difficult tides recently. Marketers anticipate that the LINK price will rise in the next six months. We present to you in this post a pricing forecast and a market analysis for the years 2022 and beyond. As we unravel the Chainlink price projections, fasten your seatbelts.

Overview

Cryptocurrency	Chainlink
Token	LINK
Price	$ 6.8850
Market cap	$ 3,211,014,819.0000
Circulating Supply	467,099,986.5306
Trading Volume	$ 659,764,629.0000
All time high	$ 52.7000 May 10, 2021
All time low	$ 0.1482 Nov 29, 2017

What is $LINK?

Chainlink serves as a decentralized oracle network that gives smart contracts on the blockchain information from the real world. On the blockchain, smart contracts are pre-defined agreements that review data and execute automatically when specific criteria are met. Through its Oracle Network, Chainlink's smart contract platform has made this a reality. We will reveal our Chainlink price estimate in this article. Prior to investing, it is essential to know the price in the future.

Chainlink figured out how to input data into and retrieve it from trustworthy, decentralized, and tamper-resistant blockchain networks. Additionally, it created a network of nodes for information sharing between blockchains, which finally led to a significant advancement in smart contracts.

As a result, Chainlink oracles can connect to conventional settlement systems in a decentralized yet secure manner and transmit important information such as price feeds, the outcome of an event, and more. In other words, Chainlink functions as a decentralized oracle network made up of data purchasers and Chainlink node operators.

$LINK Price History

Most digital assets were at their peak at the start of 2018 thanks to a robust bullish rise. The same was true of Chainlink Token. However, the altcoins market then had a dramatic freefall, which caused the market to lose billions of dollars.

A situation roughly like that is what we are seeing right now. Most alternative currencies are currently trading at between 50% and 25% of their peak levels.

The infamous crypto winter season was difficult for many altcoin ventures to survive. Some cryptocurrencies, like the prices of Ethereum and Chainlink, managed to survive the gloomy period, and their prices started to rise.

For Chainlink, 2019 was a highly important year. Its token LINK was doing incredibly well on the market. The pioneering DApps on the Chainlink network and the listing by a few cryptocurrency exchanges, such as Bitbox the previous year, are strongly linked to the performance.

As a result, the price of LINK increased from $0.3 at the start of the year to a record $1.13 by May 2019. The oracle currency smashed its ATH twice more that year, and on June 24, 2019, the price of LINK hit a record high of $4.540. The launch of the Chainlink network on the Ethereum main network played a significant role in the bullish reaction.

For the second year in a row, the Chainlink project outperformed all other cryptocurrencies in 2020, surpassing popular ones like Bitcoin and Ethereum. Bitcoin cost The enormous gathering has a close relationship with the 2020 DeFi fad.

Beginning at about $1.70, LINK's price increased to $4.570 in February. Up until the middle of July, LINK was relatively quiet until rallying to a new all-time high of $8.40. As the rally went on, Chainlink's digital asset price nearly reached $20 before being rejected and dropping back to around $12.

Chainlink's price experienced a robust bull run in 2021, rising from the $12.00 level to recent highs of $36.00 as a result of wave-like bullish behavior.

Chainlink's price encountered significant resistance at the $36 level, which it was unable to overcome and was ultimately rejected. After the rejection, the price dropped to the $23.50 level before bouncing back to the $30 support level.

The currency then hit an all-time high in May of $52.88, after which it started to decline. Chainlink was impacted by the drop in the price of bitcoin up until $30.

Since the start of 2022, the price of the coin has been shifting in the direction of a rise.

$LINK Technical Analysis

The process may appear difficult because Oracle and Chainlink are working on data conversion simultaneously. But there are only 3 stages in all! A smart contract starts the procedure by requesting data as needed. After receiving the request, the LINK protocol creates a Chainlink Service level Agreement.

The arrangement will also result in the creation of three additional contracts. One for reputation, which will validate and check the Oracle. Second, the following contract serves as a conduit between the nodes that accept requests and the request contract. The Chainlink Core handles the conversion of off-chain data to on-chain data and vice versa.

The request is changed into an off-chain format so that an API can retrieve the data for real-time information. Once the nodes have received the accurate information, it is further translated into on-chain language and sent to the nodes. As a result, the Chainlink protocol enhances data entry into the blockchain's reliability and correctness while also increasing transparency.

$LINKPrice Prediction

Potential Low	Average Price	Potential High
$6.749	$8.618	$10.005

With a price of $19.07, the LINK price has entered 2022 on a somewhat gloomy note. On January 9th, volumes saw a good increase as a result of investors' optimism, which welcomed a 50.5 percent increase. with a new week beginning and the bears outperforming the bulls. By January 24th, the price had fallen to $13.532.

While the alternative currency did show a comeback to $19.542 by February 9. FUD and worry brought by rate hikes, global unrest, and other factors caused another drop to the floor of $11.46. Nevertheless, the virtual asset had finished the first quarter at $18.164. For LINK, the second quarter has been difficult; cryptocurrency has fallen more than 65 percent since the beginning of the quarter.

$LINK Price Prediction: Q3

On September 7, Chainlink's two-day SmartCon event will begin. The project might be crucial for fostering optimism in the neighborhood. If given the right stimulus, LINK's price might increase to a maximum of $7.733. On the other hand, if bears manage to lower the value of the digital asset, it can reach $5.36. In contrast, LINK might succeed in hitting a target of $6.615 on average.

$LINK Price Prediction: Q4

Gains over the course of the year may compound as a result of the network's data feed processing more secure and accurate data. If the digital asset recalls its previous bullish ascent. The annual trade for LINK price can end at around $10.05. The alternative currency might, however, go as low as $6.749. The digital asset may eventually surpass the standard value of $8.618.

$LINK Support and Resistance Levels

The following graph displays the support and resistance levels of Chainlink.

The following can be clearly interpreted as the support and resistance levels of Chainlink from the above daily time frame.

Resistance Level 1	$11.00
Resistance Level 2	$18.40
Resistance Level 3	$29.15
Resistance Level 4	$54.00
Support Level	$5.50

According to the charts, Chainlink has recently displayed a bullish trend. If this pattern holds, LINK might cross over its $54.00 resistance level with the bulls.

Therefore, if investors start to lose interest in cryptocurrencies, the price of Chainlink may fall to approximately $5.50, sending a bearish warning.