The true Chainlink (LINK) breakout level is $16.91. This Chainlink breakout, once confirmed, is an early sign that Chainlink will move to ATH in 2024 or 2025. It will also increase the probability of LINK eventually moving to $100.
Chainlink long term price & forecast analysis
Recent articles, published in our crypto forecast area, covered Chainlink price analysis extensively.
We asked a fundamental questions, and defined very specific and refined answers.
What is our Chainlink forecast for the coming years? Our answer:
The price of Chainlink (LINK) will likely go to $100 in 2025. It has to clear $16.91 after which it may touch $52.70 in 2024.
Moreover, we took this question to the next level, and asked how bullish Chainlink could ever get. The question that comes up, thinking ultra-bullish, is if/when Chainlink may ever get to $100? Our answer:
The IH analyst team believes that LINK can reach $100 by late 2025 or early 2026. It has been trading in an established zone between $13 – $16.91 for over 80 days. It’s in a good segment/sector (oracles, data) which we are very bullish on. And 2024 is set to be a great year for altcoins.
While those are long price forecasts, the more important question is what is happening in the more immediate future.
Breakout on Chainlink’s chart
What matters, shorter term, is that Chainlink is breaking out.
It’s not just that, the breakout started formally 7 days ago. This implies that Chainlink (LINK) is now very close to a confirmed breakout.
What is a confirmed breakout? Very simple, there are 2 conditions, we think in terms of price and time:
- Price – by far, the most important price point is the 50% retracement level which is $16.91. The structure that matters is the ATH followed by the lows set after the big drop. It is THE most important price point.
- Time – LINK, like any other market, stock, token, needs to confirm a breakout which requires at a bare minimum 8 consecutive daily candles above the $16.91 level (without touching it).
With the confirmation now near, it implies that LINK is turning very bullish, a leader in this new market trend.
Readers now also understand why other chart analysis, like for instance this chart analysis, may be entertaining but may give not the most accurate reading for investors.
Chainlink adoption continues
In the meantime, we are pleased to see how adoption of Chainlink’s project and ecosystem continues, with a big breakthrough (accompanying LINK’s price breakout):
.@Paxos has adopted #Chainlink’s new @PayPal USD Price Feed to bring secure price data around its programmable stablecoin PYUSD to Ethereum mainnet.
How Chainlink helps drive PYUSD and tokenized RWA adoption across Web3 ⬇️https://t.co/NvlgwXNyub
— Chainlink (@chainlink) February 7, 2024
The one thing to remember: as investors, we have to be careful with bias.
Bias created narratives, the human mind loves narratives.
But narratives will prevent humans from seeing a turning point once the tide turns.
While we don’t expect a turning point to occur in the coming weeks, we expect a volatile summer.
As per our research, we believe that the bull run in Chainlink should give an even better opportunity, one with more upside potential. We explained this in great detail in this alert (log in required, get instant access): Top AI & Big Data Tokens Working On Breakouts.
