For those focusing on long-term altcoin investments, LINK Coin, a highly significant alternative, has surpassed $20. Even with fluctuations related to BTC price volatility, LINK Coin continues to hold above $19. So, what do the future LINK Coin price predictions indicate? What are the current forecasts and key areas?
Chainlink (LINK)
Between February 9-12, the altcoin initiated an anticipated rise, reaching levels not seen since 2022. The LINK Coin price has peaked at $20.85 for now, after surpassing $20. The fluctuations naturally affected the Chainlink (LINK) market value as well, which at $11.67 billion surpassed Dogecoin’s market value to become the 10th largest cryptocurrency.
While cryptocurrency prices are often subject to speculative volatility, the situation for Chainlink is somewhat different. The price increase, supported by growing network activity and transaction volume, could still reach higher peaks. The price within the rising parallel channel favors the bulls.
According to data provided by IntoTheBlock, Chainlink network activity and new addresses have reached their highest level in the last 22 months. Active addresses, which were at 2,800 on January 25, rose to about 3,210 by February 10. There was a similar recovery in the number of new addresses.
Chainlink (LINK) Predictions
On February 1, Eigenpie announced the integration of Chainlink CCIP with Arbitrum and Ethereum. Another integration announcement came from Paxos, a well-known stablecoin issuer in the US, on February 7. The company announced the adoption of Chainlink’s new PayPal USD price feed. Umami DAO also recently integrated Chainlink Data Streams into Arbitrum.
Some whales have transferred several million dollars in tokens to the Binance exchange, strengthening the belief that this may be the local peak. However, technical readings suggest there is room for further increase.
Daily chart peaks have led to the formation of a rising parallel channel, with a series of higher peaks and troughs confirming this. This bullish formation could give the bulls the opportunity to reach peaks of $21 and $25 if the channel’s boundaries can be maintained.
In a negative scenario, the decline will accelerate, and new lows below $18 can be expected. Rekt Capital pointed to a test of $19 in its short-term outlook.
