- Bullish LINK price prediction is $17.90 to $38.05.
- The LINK price will also reach $45 soon.
- LINK’s bearish market price prediction for 2022 is $9.91.
In Chainlink (LINK) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about LINK to analyze the future movement of the cryptocurrency.
Chainlink Current Market Status
According to coingecko, the price of LINK is $13.48 with a 24-hour trading volume of $284,845,445 at the time of writing. However, LINK has increased to 1% in the last 24 hours.
Moreover, LINK has a circulating supply of 467,009,549 LINK. Currently, LINK trades in cryptocurrency exchanges such as Binance, OKX, CoinFLEX, Bybit, and Bitget.
What is Chainlink (LINK)?
Chainlink is a blockchain-based cryptocurrency network. Chainlink provides a link between real-world and smart contracts. The multiple subcontracts can be generated in Chainlink, and also takes data from only the most trusted nodes and oracles for premium accuracy.
Moreover, LINK is the digital belonging token used to pay for services on the Chainlink network. LINK can be bought and sold for traditional currency or other digital currencies. Through cryptocurrency exchange, LINK can be purchased and can be stored in a crypto wallet and custodian like Gemini.
Chainlink (LINK) Price Prediction 2022
Chainlink holds the 26th position on CoinGecko right now. LINK price prediction 2022 is explained below with a weekly time frame.
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
The lower line is identified as parallel to the trendline, running across the bottom. It is a bearish chart pattern defined by a trendline supporting the series of lower lows and a diagonal resistance level connecting the lower highs.
Currently, LINK is at $13.46. If the pattern continues, the price of LINK might reach the resistance level of $36.19. If the trend reverses, then the price of LINK may fall to $11.21.
Chainlink (LINK) Support and Resistance Level
The below chart shows the support and resistance level of LINK.
From the above daily time frame, it is clear the following are the resistance and support levels of LINK.
| Resistance Level 1 | $17.90 |
| Resistance Level 2 | $22.30 |
| Resistance Level 3 | $28.54 |
| Resistance Level 4 | $38.05 |
| Support Level 1 | $12.60 |
| Support Level 2 | $9.91 |
The charts show that LINK has performed a bullish trend over the past month. If this trend continues, LINK might run along with the bulls overtaking its resistance level at $38.05.
Accordingly, if the investors turn against the crypto, the price of the LINK might plummet to almost $9.91, a bearish signal.
Chainlink Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of LINK is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, RVOL of LINK lies below the cutoff line, indicating weaker participants in the current trend.
More so, the LINK’s Moving Average (MA) is shown in the chart above. Currently, LINK is in a bearish state. Notably, the LINK price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of LINK at any time.
Meanwhile, the relative strength index (RSI) of the LINK is at level 42.02. This means that LINK is in a nearly oversold state. However, this gives confidence to the traders to trade without any fear.
Chainlink Price Prediction 2022 — ADX, RVI
Let us now look at Chainlink’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Chainlink. Currently, LINK lies in the range of 17.24, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of LINK. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of LINK lies below the 50 levels, indicating that the direction of volatility is low. In fact, LINK’s RSI is at the 42.02 level thus confirming a potential sell signal.
Comparison of LINK with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Chainlink.
From the above chart, we can identify the trend of the ETH, BTC, and LINK is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LINK also increase or decrease respectively.
Conclusion
With continuous improvements in the Chainlink network, we can say that 2022 is a good year for LINK. For this reason, the bullish price prediction of Chainlink in 2022 is $38.05. On the other hand, the bearish LINK price prediction for 2022 is $9.91.
Furthermore, with the advancements and upgrades on the LINK ecosystem, the performance of LINK would rise to reach above its new all-time high (ATH) $52.70 very soon. But, it might also reach $45 if the investors believe that LINK is a good investment in 2022.
FAQ
Chainlink is a framework for creating decentralized Oracle networks that bring real-world data into blockchain networks and enables the creation of hybrid smart contracts.
LINK has listed on many crypto exchanges which include Binance, OKX, CoinFLEX, Bybit, and Bitget.
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With the ongoing developments and upgrades within the LINK platform, it has a high possibility of reaching its ATH soon.
On May 10, 2021, LINK reached its new all-time high (ATH) of $52.70.
Chainlink (LINK) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of LINK in the past few months, LINK is considered a good investment in 2022.
Chainlink (LINK) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Chainlink (LINK) will hit $45 soon.
Chainlink (LINK) price is expected to reach $56 by 2023.
Chainlink (LINK) price is expected to reach $78 by 2024.
Chainlink (LINK) price is expected to reach $89 by 2025.
Chainlink (LINK) price is expected to reach $100 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/chainlink-link-price-prediction