TL;DR
- LINK’s price has recently dropped to around $15 but is expected to rally according to multiple analysts.
Factors like negative exchange netflow suggest reduced selling pressure, indicating potential for significant value growth in the short term.
The Latest LINK Forecasts
Chainlink’s native cryptocurrency – LINK – was among the market’s top performers earlier this year. However, it has stalled its progress lately, with the price currently trading at around $15 (a 26% decline on a monthly scale).
Based on the opinions of several experts, this point could mark the beginning of a significant surge in prices for these cryptocurrencies in the upcoming months. Crypto Wolf, a well-known user on X, included LINK in his list of potential big gainers during this bull market. Floki Inu (FLOKI), Polkadot (DOT), and NEAR Protocol (NEAR) are some of the other top altcoins making it onto this esteemed list.
An analyst who frequently discusses Dogecoin, such as SlumDOGE Millionaire, has stated that Chainlink (LINK) is currently among the most esteemed cryptocurrencies. It is no wonder that the top meme coin by market capitalization, Dogecoin, took the leading position. Additionally, Cardano‘s ADA and Solana’s SOL were also mentioned as part of this prestigious group.
A different user of X holds the opinion that Chainlink’s native token may experience a price surge of up to 10 times to 20 times its current value, similar to AVAX, INJ, SEI, ICP, HONEY, and KAS.
The Recent Trends
One indication suggesting that LINK could experience a price increase in the near future is the recent trend in its exchange outflows. As reported by CryptoQuant, these outflows have become negative over the past two days.
Leaving behind the reliance on central exchanges and opting for self-custody instead is seen as a positive sign because it decreases the urge to sell right away.
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2024-04-13 07:48