Chainlink Price Prediction: Can LINK Overcome Challenges & Shine

Chainlink Price prediction shows that the crypto may attain $25 as the highest price in April if it surpasses $22.
The technical indicators imply a sideways to positive outlook in the short term.

The Chainlink price prediction shows that the crypto is hovering back and forth delivering a sideways to bullish outlook in the near term. The crypto is a mixed bag on Saturday, seeing moderate gains by the afternoon session.

The bulls are trying to hold the grounds near the 50 day EMA as an indecisive candlestick was observed on the charts. At the time of writing, the LINK price was up nearly 0.37% and trading close to $19.04.

The daily chart shows the formation of a range and the price hovering in between the upper and lower boundary of the range formed. On the higher side, the $22 level has been acting as a supply and acting as a hurdle for the bulls. Whereas, the $16.64 level has been acting as a demand and preventing the price from falling further.

Now, until the price is maintained in the range it may continue to maintain a sideways trend. Any breakout or breakdown may further validate a trend continuation on that very side.
Chainlink Crypto Volume Analysis

<iframe title="Santiment Chart: Price (LINK), Volume (LINK)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=chainlink&pt=LINK&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2333bd5d%3B%236f82d1&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>

The volume analysis demonstrates that the chainlink crypto received 320 Million USD in volume in the past 24 hours which is 15.81% less than the previous day’s volume. Alos, it has a current market cap of 11.15 Billion USD and ranks 15th in the overall crypto market.

The volume to market cap ratio of chainlink is 2.88% indicating low volatility in the crypto. It has a current circulating supply of 587.09 Million LINK tokens against a total supply of 1 Billion tokens.

Chainlink Social Volume Insights

<iframe title="Santiment Chart: Social Dominance (LINK), Social Volume (LINK)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=chainlink&pt=LINK&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=social_dominance_total%3Bsocial_volume_total&wax=0%3B1&wc=%235275FF%3B%2368DBF4&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>

Moreover, the social volume and social dominance of chinlink crypto displays the increasing or decreasing number of social users over a period of time. The social users include the users from various social media platforms like Twitter, Telegram, Instagram and other popular social media platforms. A rise in the social users indicates the rising popularity and awareness of the users towards the crypto which may help the community grow more.

The social volume analysis of chainlink crypto shows a positive growth in the last one month. The number of social users was low in February which saw a jump of nearly 20% in March 2024.

Technical Indicators Imply a Mixed Outlook

<iframe title="Santiment Chart: Price (LINK), RSI 1d (LINK)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=chainlink&pt=LINK&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Brsi_1d&wax=0%3B1&wc=%23317945%3B%234f60ce&ws=%7B%22node%22%3A%22area%22%7D%3B%7B%22__appliedInterval%22%3Atrue%2C%22interval%22%3A%221d%22%2C%22node%22%3A%22area%22%7D" scrolling="no"></iframe>

The technical indicators imply a sideways to slightly positive outlook in the short term. However, the long term trend outlook is positive. The chainlink cryptocurrency price has experienced frequent crossover with the short term EMAs of 20 and 50 day indicating a sideways trend.

At the time of writing, the Relative strength index (RSI) line was placed close to the mean line at 49.12 points and that of the 14 day SMA line was hovering at 46.79 points. Both the RSI and SMA line were placed close to the mean line suggesting a slightly positive outlook. Also, a bullish crossover of both the lines was observed which further adds confirmation to it.
Chainlink Price Prediction April 2024.

The Chainlink price prediction for April 2024 shows that the crypto may advance to a high of $25 if bulls are able to surpass the hurdle of $22 on the higher side. Whereas, the less optimistic analysts estimate a price target of $15 on the lower side after the breakdown below $16.64.
The chainlink crypto hovers in a range and displays a sideways outlook in the short term. The $22 level and $16.64 level have been acting as a supply and demand zone respectively and the price hover in the zone. The technical indicators imply a mixed outlook in the short term.

Now, any breakout or breakdown may indicate a trend continuation on either side. The long term trend outlook is positive which may attract more buying volumes at the lower levels.

Technical levels:
Support levels: $16.64 and $13.49
Resistance levels: $21.92 and $25.00

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Keyword: Chainlink Price.


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