Chainlink is Predicted to Reach $ 9.13 By Feb 23, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Chainlink is up 12.08% today against the US Dollar
• LINK/BTC increased by 9.53% today
• LINK/ETH increased by 10.73% today
• Chainlink is currently trading 9.98% below our prediction on Feb 23, 2023
• Chainlink gained 29.05% in the last month and is down -47.21% since 1 year ago

LINK price is expected to rise by 11.09% in the next 5 days according to our Chainlink price prediction

Chainlink price today is trading at $ 8.22 after gaining 12.08% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 12.41% in the same time period. LINK performed well against BTC today and recorded a 9.53% gain against the world’s largest cryptocurrency.

According to our Chainlink price prediction, LINK is expected to reach a price of $ 9.13 by Feb 23, 2023. This would represent a 11.09% price increase for LINK in the next 5 days.

LINK Price Prediction Chart

Buy/Sell Chainlink

What has been going on with Chainlink in the last 30 days

Chainlink has been displaying a positive trend recently, as the coin gained 29.05% in the last 30-days. The medium-term trend for Chainlink has been bullish, with LINK increasing by 36.48% in the last 3 months. The long-term picture for Chainlink has been negative, as LINK is currently displaying a -47.21% 1-year price change. On this day last year, LINK was trading at $ 15.56.

Chainlink reached its all-time high price on May 10, 2021, when the price of LINK peaked at $ 52.89. The current LINK cycle high is $ 9.45, while the cycle low is at $ 5.36. LINK has been displaying low volatility recently – the 1-month volatility of the coin is at 3.36. Chainlink recorded 16 green days in the last 30 days.

Chainlink technical analysis for today - Feb 18, 2023

The sentiment in the Chainlink markets is currently Neutral, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 7.24, $ 6.80 and $ 6.58, while $ 7.89, $ 8.11 and $ 8.54 are the key resistance levels.

Neutral sentiment for Chainlink

23 indicators are currently signaling a bullish prediction for Chainlink, while 9 indicators are showing a bearish forecast. With 72% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Chainlink.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 60 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Chainlink moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Chainlink is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Chainlink is at 62.34, suggesting that LINK is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Chainlink over the last 50 days. Currently, Chainlink is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the LINK closing price for the last 200 days. LINK is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Chainlink prediction

After considering the above factors, we can conclude that the current forecast for Chainlink price prediction is Neutral. LINK would have to increase by 11.09% to hit our $ 9.13 target within the next five days. Moving forward, it will be important to monitor the LINK market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Chainlink price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex