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As yesterday’s altcoin losses begin to stabilize, many have turned green, yet the losses are not fully recovered. Bitcoin‘s inability to stay strong above $40,000 is increasing investor anxiety. So, what do the latest predictions tell us about the price of Chainlink? Has the time come for investors to buy?
Chainlink (LINK)
This year, a lot of developments are expected to support the price of LINK Coin. The ongoing growth in the RWA sector, comments by BlackRock and others on the tokenization of real-world assets, increasing expectations for the expansion of the LINK staking pool, and the anticipation of enhancing the utility of LINK Coin are at the forefront.
Having taken its partnership with Swift to the next level in October, Chainlink is already the strongest representative of the RWA category in the crypto initiatives space. Moreover, with CCIP, it has demonstrated its ability to guide institutions in this area. Fundamentally, Chainlink has a very positive outlook because, in addition to all this, there are price catalysts such as halving, interest rate cuts, and the potential of ETFs to attract broader audiences to cryptocurrency.
LINK Coin Price Prediction
The crypto analyst known by the pseudonym Satoshi Flipper expects the price of LINK Coin to bounce from the bottom and rise to $19. Crypto Tony shared a similar view. Crypto Moose, who expects a decline, wrote the following, suggesting that LINK might first drop to $10 or $11;
“Don’t be surprised if LINK drops to $10-11. Be prepared for it. I will happily accumulate at lower prices. Keep going, stay faithful, and maintain the course”.
According to Elliot wave counting, the three-day chart shows signs of a decline for LINK Coin. The most likely wave count indicates that LINK is in the fourth wave of a five-wave upward movement. If the count is correct, LINK will fall by 20% to the key support area of $11.45.
However, despite the downward forecast, a close above $17 would indicate that the local bottom has been marked. Following this, the price could climb to the next resistance at $19.34. At the time of writing, Bitcoin is at $40,130 and it is difficult to be certain that the decline has ended unless it reclaims the $40,400 support level.
