Since the beginning of this year, Chainlink’s price performance has been diverse, reaching as high as $24 in early 2025, but then experiencing a significant dip below $20. Yet, it seems that the digital currency is making a steady comeback, hinting at an improving market trend.
As reported by a well-known cryptocurrency expert on social media platform X, the Chainlink price is gearing up for further growth within the upcoming weeks. Despite some turbulence over the weekend for the LINK token, this temporary slowdown has had minimal impact on its strong weekly performance.
Can LINK Price Reach A New All-Time High In This Cycle?
On January 18th, crypto analyst Ali Martinez shared a compelling prediction on platform X for Chainlink’s price increase over the coming weeks. Martinez suggested that Chainlink’s value might surge by over 100% within this market cycle, using social media to convey his insights.
The positive outlook we have stems from the emergence of a ‘bull flag’ pattern in the Chainlink price graph, observed over a four-hour span. In the realm of technical analysis, the ‘bull flag’ formation is generally viewed as a robust indicator supporting continued uptrends in pricing.
first, an extended upward price trend (often referred to as the ‘flagpole’), followed by a more stable, potentially slightly downward sloping phase (referred to as the ‘flag’). This second phase is a period of consolidation where prices may level off or move sideways before continuing their upward trend.
According to Martinez’s analysis, it appears that the price of Chainlink is attempting to break free from the confinement of a bullish formation known as a ‘consolidation range.’ If this breakout results in a successful close above the flag’s upper limit, we could potentially witness a notable upward move in the price of Chainlink.
In simpler terms, we estimate the price goal from a bull flag pattern by taking the height (length) of the first “flagpole” and adding it to the price where the breakout occurred. Based on this method, the possible price level for this bullish setup is approximately around $50.
This suggests a more than double (100%+) increase for LINK from its current value. Furthermore, such an upward trend could potentially lead Chainlink’s token back to its previous all-time high of $52.7, a price it reached in May 2021.
Chainlink Price At A Glance
Initially surging over $25 on the morning of January 18, Chainlink has since fallen back to around $24. Presently, each LINK token is worth approximately $24.13, representing nearly a 6% decrease within the past day. However, in the last week, the price of Chainlink has risen by almost 20%, as indicated by data from CoinGecko.
Featured image from iStock, chart from TradingView
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2025-01-19 15:04