Chainlink price prediction: LINK to $35 next, analyst
3 min readTL;DR Breakdown
- Chainlink Price prediction expects a rise to $35 in the long run.
- Strong resistance currently lies at $30.90.
- LINK expected to break above current wedge-like formation.
The Chainlink price prediction by Ich Ban shows that the LINK price has recently broken above a rising triangle pattern, and the price is expected to ascend towards the $35 mark in the long-term. On the 3rd of February, the cryptocurrency moved towards the $25.5 level.
1-Day Chainlink price analysis
The Chainlink price can be seen forming an ascending slope on the chart for the 3rd of February. The cryptocurrency’s price rose past the $25 mark, at the time of writing, Chainlink is priced at $25.49. The highest price that the crypto asset reached was $25.5, whereas the lowest price it hit was at the $23.56 level.
As for the technicals, we see 15 out of 26 with a buying indication, 10 in the neutral zone, and one with a selling indication. Nine out of 11 oscillators are neutral while one indicates a buy signal and the other one a sell signal. 14 out of 15 moving averages are showing a buy indication while one stands neutral.
LINK price appears to be testing the upper Bollinger band near $25.85 on the 1D time frame while the midline acts as the support. This means that the cryptocurrency is under a bullish momentum and may see a continuation in this time frame.
Chainlink price prediction: What to expect?
The Trading View analyst Ich Ban believes that the LINK price will move into a long position and rise towards the $35 mark. Per the Chainlink price prediction, the cryptocurrency has been trading inside a big rising triangle pattern.
The analyst discussed that ever since the cryptocurrency broke above its all-time high, it has been consolidating in a wedge-like formation. This means that the cryptocurrency is expected to break above this consolidation zone and turn extremely bullish from there. Per the analyst’s prediction, the cryptocurrency should bounce off this triangle and head straight towards the $30.90 resistance next. A breakout above this $30 mark will lead the price towards the $35.9 level, which is the target price for this trade setup.
Analyst Bull Market FX also predicts a breakout above a triangle pattern. Per the analyst, the cryptocurrency will rise towards the $27 to $28 region. Per the Chainlink price prediction, the LINK price has already moved above the triangle formation and now it is expected to observe a bounce near the $23 to $25 region before it continues to rise. Per the analyst, the cryptocurrency is edging higher towards the top resistance and if the LINK/USD pair sees a close above the pattern on the 4h time frame, the cryptocurrency will move long for a retest of higher resistances.
Syed B69’s prediction for the LINK price highlights a breakout of a descending trend line. The Chainlink price prediction suggests a rise towards the top as the volume was recently declining as the Relative Strength Index (RSI) was also coiling up. This indicated a breakout, and on the 3rd of February, the price moved above the falling trend line. The cryptocurrency is expected to see price continuation towards the upside.
