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This article on Chainlink Price Prediction 2022 is based on technical analysis. We considered the key metrics in our Chainlink price analysis and prediction are listed below.
Chainlink’s recent achievement is breaking its $14 resistance level. After that, it has attracted investors’ attention in the crypto market. As a result, crypto analysts cannot stop projecting this increase on chain link’s price in the days to come.
Recently, the Zenlink crypto exchange has integrated its system with Chainlink. Hence, upgrading its network’s security, Chainlink price oracles serve as the leading technology in the exchange’s financial apps. Hence, we can see the mass adoption of Chainlink tokens is anticipated.
Now that we know Chainlink’s latest developments, will it be a profitable investment after 2021? Let us find it out in this post.
What Is Chainlink
Chainlink is a blockchain-based abstraction layer that allows smart contracts to be combined in any way. It was discovered in 2017; moreover, a huge open-source community drives the Chainlink Network. Data providers, node operators, smart contract developers, researchers, security auditors, and part of this community.
On understanding Chainlink, do you think it will be profitable crypto in 2021? Join me and look at this Chainlink price analysis and prediction charts.
Chainlink Coin Value
Chainlink is a decentralized oracle network that secures the connections between blockchains and data feeds, events, and payment methods. As a result, it delivers important off-chain data that complicated smart contracts require. It also helps smart contracts become the most popular digital contracting format. The company seeks to enable decentralized involvement for all node operators and users contributing to the network.
Chainlink Price History of 2020 and 2021
When writing this Chainlink price analysis, we observe Chainlink trading at $34.80. It is linked to a 24-hour trading volume of $1,226,963,260. Chainlink also has a circulating supply of $432,509,553.92 coins. Binance, Huobi Global, ZBG, Upbit, and OKEx are the top cryptocurrency exchanges in the country. Now, let’s go to the following phase of our Chainlink technical analysis for 2020 to date.
Chainlink Price History 2020
The price of the Chainlink coin began on a high note of $12.83 on December 15th, 2020. Furthermore, it increased to $13.51 on December 19th, 2020. It was the highest price in 2020; unfortunately, it went down to $10.96 on December 27th, 2020. Hence, it marked the lowest Chainlink price for the year. The price later raised a little to $11.25 on December 31st, 2020. We don’t observe stability in the price. Hence there was a fluctuation in the market price. Moreso, on 27th and December 29th 2020, we recorded the highest exchange exceeding $2 billion. As we keenly observe, there is no stability in price in December 2020.
1st January to 15th December 2021
Firstly, Chainlink’s price started very low at $11.23 on January 1st, 2021. Despite this, this wasn’t promising. Fortunately, the trend turned up and landed at $23.53 on January 18th. More so, the price dropped to $18 on January 22nd. After that, it drastically increased to $24.77 on the 24th. We observe this to be followed by a drop to $23.60 on January 31st. Besides, the price went below the highest price of the month. Moreover, in February, the price of Chainlink ranged from $24.5 to $34.71 on February 23rd, 2021. The price averaged $29.42. It was the month in which the price became a little stable.
Moreover, we see the month of March to have a great price fluctuation, with the highest at $31.70 on the 9th. We can observe the lowest price at $24.5 on March 1st. We can see this as a big disparity. In April, we recorded the price at $29. Unfortunately, it dropped to $29.01 on the 30th. After that, there was an increase to $42.62 on the 16th. We consider this as the best price recording.
Furthermore, in May, the highest price was recorded for the year, at $52.21, before it dropped to $18.21 on December 14th. Furthermore, prices dropped in June, July, August, and November. We found that it might have been tractriggered by new mines and currencies in the market, which posed competition.
Summary of Chainlink Coin Price History
|Year||Minimum price||Maximum price|
The Price Prediction of Chainlink for The Next Few Years
As we described above, Chainlink was a relatively young crypto token with large volatility. It surged from $11.06 to an all-time high of $53.00 in the first half of 2021. Then it dropped back to $14.53 in less than two months. But after we analyze the technical indicators, you will find the price of LINK may get stable in the future.
The Price Prediction of Chainlink in 2022
From the chart, we can tell that two distinguished resistance levels. Based on that, we may conclude the price of Chainlink may swing between $15 and $37 in 2022.
As for the short-term price forecast, we need to focus on the Moving Average (MA) indicator. In this chart, we can see the LINK price is under 50-day MA. In other words, it’s in a bearish trend. The relative strength index (RSI) also proves a mild oversold state of Chainlink. Investors can trade Chainlink with no fear in this short-term period.
The Price Prediction of Chainlink from 2023 to 2025
As a matter of fact, the coin supply of Chainlink is limited to 1 billion. Therefore, it will be a shortage when traders require more coins to make deals. Fortunately, only 47% of LINK coins are in circulating supply now, and there will be enough LINK tokens for the next five years. As a result, the Chainlink will stay under $100 and swing above $30 in the next few years.
The Price Prediction of Chainlink After 2025
After a few years of development of NFT and Metaverse, mass adoption of cryptocurrency may drive the LINK prices to a new all-time high. The main advantage of Chainlink is that it has a broader community acceptance while no closest competition exists. The last paragraph mentions that the coin supply may meet a shortage if too many trades run on Chainlink. The price of Chainlink can easily break by $130 after 2025. Some optimistic investors suggest that getting $150 high by the end of 2025.
What The Investment Agencies Say
Like other forecasters, they believe in an overhaul in the price of Chainlink. We see 2021 as a year of change in crypto market value. Hence, more investors should invest in it.
Long Forecast Investors
Recent charts we’ve observed shows that Chainlink has performed great over the past few days. Moreover, its price has been over 30% in the last seven days. After that overtaking its $58.12 resistance level and even climbed higher. The forecasters project that if the trend is to continue, Chain-link might run along with the rest.
We may deduce from these trades that the bears may seize over if investors turn against cryptocurrency. As a result, the price of Chainlink might rise to about $15.6, indicating a bearish indication. As a result, Chainlink must be dethroned from its rising position.
Meanwhile, we have a long-term Chainlink price projection for 2021. It has a good chance of breaking through its current all-time high (ATH) of $52.88 this year. This will only happen if it is able to overcome a number of psychological roadblocks.
Digital Coin Price
Chainlink has a promising future ahead of it in 2021. We may see Chainlink reach new heights due to ongoing developments within the Chainlink ecosystem and the overall crypto market. The Chainlink price forecast for 2021 is $58.12.
Despite this, if we decide that Chainlink is a good investment in 2021, it could reach $70. It is present alongside mainstream cryptocurrencies such as Bitcoin and Ethereum.
Will LINK Surpass its Current ATH?
In 2021, we can see that Chainlink is a good investment. It has attracted more investors, so we anticipate a price increase. On the other hand, Chainlink has a good chance of exceeding its current ATH of around $52.88 this year.
How to Buy Chainlink Coin
We can obtain Chainlink tokens from cryptocurrency exchanges such as Binance or Huobi Global. Fortunately, ifyou already have cryptocurrency, it’s simple to buy. Just download exodus wallet and exchange the cryptocurrency with Chainlink. On downloading exodus app:
To begin, go into your Exodus wallet and choose the cryptocurrency you want to swap for Chainlink. Exodus will then display a list of dozens of the most popular cryptocurrencies. Furthermore, if the coin you own isn’t displayed, you can add it to Exodus by selecting Add More at the bottom of the cryptocurrency list. After you’ve located the coin in your Exodus wallet, select Receive.
Second, Exodus will show you a cryptocurrency address to which you can send your cryptocurrency. The transaction clears once you transmit the coins, and the coins appear in your Exodus wallet. As a result, click the swap button (the two arrows just to the right of the receive button). Finally, choose the cryptocurrency you wish to swap for Chainlink and the number of links you wish to purchase. As a result, the exchange and transaction will begin.
Depending on the cryptocurrency you’re trading, the trade could take a few minutes or many hours (for example, BTC is slower than XRP). You’ll be able to see your newly purchased Chainlink in your Exodus wallet as soon as the transaction has cleared!
Should I Invest in Chainlink Coin?
Chainlink is like a weather forecaster. It allows investors to predict better what may happen in the future, therefore, allowing planning on their next investment. Besides, no investor would ever wish to invest where there is a loss projection. Therefore, Chainlink help to overcome unnecessary losses. It provides a piece of crucial information about the marker. Hence, one should think of investing through buying Chainlink.
Will Chainlink Coin Price Reach $70 soon?
Yes, as we can observe from the current trend, we see that Chainlink’s price rises. Therefore, we expect a rise up to $70 or above that. More investors have opted for Chainlink due to its high price projection.
How to Mine Chainlink
ASIC mining is used to mine Chainlink. These are computers comprised of a motherboard, an ASIC chip, and a cooling system. They are specifically designed to mine a specific cryptocurrency perfectly. As a result, we can solve cryptographic puzzles on our own.
Despite this, we can quickly recoup our initial investment in the machines. However, there are issues with noise, heat, and power consumption for the machines. Furthermore, they are prone to failure because they operate continuously, resulting in wear and tear.
Ethash is also required for encrypting Ethereum and Ethereum Classic. As a result, the NSA created the SHA256 (or Secure Hash Algorithm) algorithm in 2002. It uses the Bitcoin cryptocurrency’s algorithm and powers all Bitcoin-based coins.
Projections in the market give a clear and detailed view of Chainlink. It helps us better understand why we should invest in this crypto. We should also consider their future expectations to choose which coin to trade.
From the above record, we can see that the price of Chainlink is going up. It’s therefore prudent to consider investing in this crypto. We trust that the trend will continue for a good return on the crypto. Different forecasters project that by 2025, the price will land at $75. It is, therefore, the best investment to think of.