Chainlink Price Prediction
If the Chainlink (LINK) price remains above $14, the bulls will maintain control over the bears. According to crypto analyst Michael van de Poppe, Chainlink is currently consolidating around the $14 level and shows no signs of retesting at $8. Van de Poppe believes that entry points between $11 and $14 are favorable, with a target set at $25 in the next 3-6 months.
Another analyst, Bluntz, sees bullish reversal indicators for Chainlink on the eight-hour chart. Bluntz suggests that LINK may rally to a level not seen since January 2022. Using Elliott Wave theory, Bluntz predicts that $20 is the next target for LINK.
Chainlink Whale Purchases
Large holders of Chainlink tokens have been consistently increasing their holdings following recent announcements. Between December 15 and December 17, these whales added a total of 23.44 million LINK tokens to their wallets. The upward trend is indicated by the Large Holder Netflow metric, which measures the daily variance between outflows and inflows from wallets holding at least 0.1% of the total circulation supply.
Based on the current average price of $14.20, these whales have accumulated LINK tokens worth $332 million since the integration of Chainlink price feeds with Polygon.
Hot Take: Chainlink Gearing Up for Bull Run?
The recent price consolidation and accumulation of LINK tokens by large holders suggest that Chainlink could be preparing for another bull run. Analysts predict targets ranging from $25 to $20 for LINK in the coming months, indicating potential upward movement in its price trajectory. However, overcoming resistance at $15 will be crucial for Chainlink’s future performance. Keep an eye on the market and monitor price movements to make informed investment decisions.
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