Is It Too Late To Buy Chainlink? Crypto Experts Give Their LINK Price Predictions

Chainlink price is down 0.5% over the past 24-hours, falling to $8 as the cryptocurrency market is down 1.5% over the same time frame. Its current price means it is up 12.5% ​​over the past week and 20% over the last 30 days, giving the altcoin a 43% gain since the start of the year.

Some analysts are now predicting that LINK will reach $10 in the coming weeks, helped by a combination of price momentum and Chainlink’s growing usage. And with some supporters anticipating Chainlink’s partnership with SWIFT to connect a decentralized oracle network with more than ten thousand banks, LINK could see a massive rally in the more distant future.

Is it too late to buy Chainlink? Crypto experts give their LINK price forecast

LINK’s chart is in a very promising spot right now, with its indicators indicating that it may be about to rally. For one, its 30-day moving average (red) recently climbed above its 200-day average (blue), forming a ‘golden cross’ that could signal a breakout rally.

At the same time, the relative strength index of the coin has increased from less than 50 to more than 60 in the middle of the month. Again, this suggests increasing buying pressure which may continue to gain momentum for the time being.

If LINK can overcome the $8 resistance, it could continue rising for a while while consolidating around new long-term levels. In fact, some experts are suggesting that it will rise to $10 in the near future, with Michael van de Poppe – founder of Netherlands-based trading platform Eight – being the most prominent analyst to suggest this.

Naturally, LINK supporters and community members believe the altcoin price is about to ‘explode’, although what that might mean in price terms is anyone’s guess.

On the other end of the spectrum, some analysts are predicting a selloff could be coming soon. This skepticism is largely based on the fact that LINK’s price is currently trading above its moving averages, which means that a decline is needed.

However, despite such apprehensions, there are many reasons to be optimistic about LINK. This is mostly due to its parent platform, Chainlink, which has been seeing increased adoption and usage in recent months.

For example, Wednesday saw the news that the stablecoin TrueUSD (TUSD) Will use Chainlink’s network To provide proof that, for all newly created TUSD, sufficient reserves are held at the stablecoin issuer’s bank. This is done in conjunction with an accounting firm called The Network Firm, which will feed the reserved data to Chainlink.

It highlights the critical role of the cryptocurrency sector and market in connecting them to the outside world and providing the blockchain-based trust necessary for individuals and organizations to operate securely in distributed networks.

The news of Chainlink joining TrueUSD helped propel LINK from Wednesday’s close of $7.36 to $8.15 yesterday. And for some LINK holders, Chainlink’s partnership with SWIFT — Announced in September 2022 – The long term will see this cost increase even more, given that it could result in thousands of banks using Chainlink.

There are more things to look forward to as far as LINK is concerned Chainlink is also in the process of staking its network., Needless to say, this will drive demand for LINK, given that investors will be able to earn rewards by holding it.

with and chainlink is bragging That it now has nearly 1,000 oracle networks installed and more than 7 billion data points, it’s clear that its platform is attracting a lot of use. Because of this, as some experts predict, LINK has a really good chance to cross $10, and even higher as the year progresses.

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Is Now a Good Time to Buy Links?

While LINK is potentially due for a rally, it may not see major gains until the end of the year. However, there are other promising coins in the market right now, and we have compiled a list of the top 15 cryptocurrencies for 2023, as analyzed. crypto news Industry Talk Team.

The list is updated weekly with new altcoins and ICO projects, so be sure to check back for new entries.

^{Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.}