Chainlink Price Prediction as LINK Overtakes Dogecoin in Market Rankings – Is a $100 LINK Possible?
The Chainlink price has increased by 1% in the past 24 hours, climbing to $20.31 as the market continues to enjoy the fruits of rising Bitcoin ETF volumes.
This means LINK has now gained by 10% in a week and by 30% in the last 30 days, with these ascents enabling the utility token to leapfrog the flagging Dogecoin in the market’s capitalization rankings.
And with LINK also up by 200% on the back of growing Chainlink usage and adoption, it’s likely that its medium- and long-term momentum will carry into further rallies soon enough.
LINK’s recent joys have pushed it to its highest level since January 2022, and with its indicators still looking strong, it seems that it won’t be correcting anytime soon.
Its relative strength index (purple) is moving back to 70, having been hovering around this level for over a week now.
This signals mounting buying pressure, while the fact it hasn’t reached 80 or 90 also indicates that it has more room to keep rising before the market overbuys it.
Its 30-day moving average (yellow) is also climbing very steeply at the moment, putting further distance between it and the 200-day average (blue), while its current price continues to shoot above both.
Clearly, LINK – like much of the market – is in the middle of an expansionary phase, and given that it had struggled for most of 2022 and 2023, it has plenty of lost time to make up for.
And it’s very possible that things have only just begun for LINK, and for two main reasons.
On the one hand, the market is likely to continue ramping up the momentum, helped by the aforementioned Bitcoin ETF volumes and also by the upcoming Bitcoin halving, which is due in April.
⬡ Chainlink Adoption Update ⬡
There were 7 integrations of 4 #Chainlink services across 7
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