Chainlink Price Prediction: Here’s How High AI Predicts LINK Will Go in Coming Weeks

 Key highlights:

• The CoinCodex AI is calling for LINK to hit $35.72 by March, an 85% jump from its current price point.
• From linking with investment app SingularityDAO to Circle integrating LINK’s protocol – these partnerships are helping put Oracle tech in more hands.
• With momentum and reduced selling pressure, it looks like there’s room for this rally to run longer.

With the Bitcoin halving event roughly 70 days away, it’s a good time to take a fresh look at price predictions and see how the crypto ecosystem is evolving. One of the projects that the CoinCodex AI price analysis tool takes into account is Chainlink, and this algorithm predicts a significant increase in the price of LINK in the next few months. Let’s dive into what factors might be contributing to Chainlink’s optimistic outlook and see if the numbers add up.

According to CoinCodex’s AI prediction models, Chainlink (LINK) is expected to hit $35.72 by March- that would represent an impressive 85% gain from its current $19 price point. Of course, projections are merely educated guesses, but there are some compelling signs LINK may indeed be poised for an uplink. To break it down step-by-step:

Partnering for success

First, let’s consider Chainlink’s expanding ecosystem of partnerships. In a move that marries decentralized oracle data with AI-powered portfolio management, Chainlink recently linked up with crypto investment platform SingularityDAO. This alliance will see the two projects collaborate to support innovative new blockchain concepts through SingularityDAO’s incubation programs. More partnerships like this that extend Chainlink’s reach into real-world data and emerging DeFi use cases certainly bode well for future LINK adoption.

SingularityDAO & Chainlink Partnership Milestones

Looking at past startups helped by SingularityDAO, there’s good reason to believe big returns lie ahead. With Chainlink now part of the equation too, get ready for groundbreaking projects we can’t even imagine yet.

Regarding adoption, payments giant Circle also recently announced plans to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable easy cross-chain transfers of its USD Coin (USDC) stablecoin. This opens the doors for a wave of new multi-network dApps involving USDC payments and interactions. Being at the core of such mainstream developments continues validating Chainlink as a go-to oracle solution. Further, it embeds it within the expanding crypto economy – all positive signs for the project long term.

Chainlink Technical Chart

Technical momentum building

Analyzing LINK’s technical chart paints an equally rosy picture. After bouncing off multi-month lows in late December, the token has rebounded sharply toward its highest price point since January 2022. In fact, as per CoinCodex data, LINK recently touched $19.68 – a 25-month high. Bolstered by trend indicators like the 50-day and 200-day simple moving averages angling positively, LINK now trades comfortably above all its short-term moving averages.

Momentum seems to be on Chainlink’s side as traders rotate back into the market-leading Oracle platform. Keep an eye on $23.50 as the next key resistance level – a convincing break above there could kickstart the next leg higher toward $29 then $35 resistance zones over the next 1-2 months if bullish flow continues. The data backs up CoinCodex’s AI-predicted 85% price increase being well within the realms of possibility.

Supply signals strength

Finally, another bullish signal comes from analyzing Chainlink’s token supply dynamic on exchanges. Data source Santiment notes that over the past few months, the total LINK tokens held on centralized exchanges like Binance, OKX, and Bitfinex have declined to multi-year lows under 15% of the total circulating supply.

?? #Chainlink enjoyed a mini breakout this weekend, hitting $15.82 for the first time in 2 weeks. The supply of $LINK on exchanges is below 15% for the first time in ~4 years, and the amount of >0 coin wallets is within 6% of its #AllTimeHigh. https://t.co/IodNDKZl5q pic.twitter.com/OLTFxfuVlw

— Santiment (@santimentfeed) January 15, 2024

This indicates that fewer traders are willing to sell their holdings in favor of removing tokens from “selling” exchanges into long-term storage – whether personal wallets or staking smart contracts. Restricted supply like this coupled with ongoing network usage and development bodes well for supporting LINK’s value over the long run. It suggests the current breakout may have longer legs as short-term sellers are increasingly out of the picture.

With vibrant project expansion, gathering technical momentum, and reduced exchange supply – Chainlink’s current and projected price trend looks promisingly poised according to the data. While macro factors like Fed rates will continue casting a shadow, the oracle giant appears well-structured for resilience and future growth. CoinCodex’s AI is bullish for a reason; with catalysts like these lining up, the 85% LINK price increase projection within 3 months could indeed ring true. The AI price forecasting model also predicts strong price increases for AVAX, ADA, and RNDR in the coming months.