After what was a dominant December rally, a price correction has hit Chainlink hard, leading LINK to fall a remarkable 15% and threatening what would’ve been a monumental surge arriving in January of next year. However, its recent slide hasn’t led analysts to project a continued decrease for the asset with 2025 nearing.
The token has been one of the big surprises of the ongoing crypto market bull rally. Alongside assets like VeChain (VET), Stellar (XLM), Ripple (XRP), and Tron (TRX), LINK was a big winner. Although its recent slide has threatened it to fall below $24, there is still hope for its resurgence before the start of the new year.
Source – Phemex
Also Read: Chainlink Outperforms Bitcoin, Solana as it Targets Trip to $50
Chainlink Price Correction Continues With Fall Below $25: LINK Is Still Expected to be Early 2025 Winner
Since early November, the digital asset market has been surging. With Donald Trump emerging victorious in the 2024 US presidential election, optimism is abounding for what his appointment could mean for 2025. That excitement has led Bitcoin to a six-figure price for the first time in its history. That increase has only pushed a host of assets up over the last month.
However, one of the big winners has begun to fall back to earth. Indeed, Chainlink has dropped as much as 15%, although analysts are still hopeful that LINK can rebound to reach a $35 price in January. Yet, the question is, can the asset make good on its potential to return to form?
Over the last seven days, LINK has dropped 14.97%, according to CoinMarketCap. Moreover, it has plummeted more than 11% in the last 24 hours to trade at the $24.08 level. That performance underscores its 63% increase over the last 30 days and 69% boost for the last year.
Source: Watcher Guru
Also Read: Chainlink Breaks a 3-Year Price Barrier as Whales Jump in on LINK
Cryptocurrency analyst Ali Martinez noted this week that LINK “flashed a buy signal” on its four-hour chart. Moreover, he noted that if the asset held its $26.8 support, it could rebound toward the $28 or $30 level. Unfortunately, the asset proved unable to do that with its trading volume boosting 49% Thursday.
But all hope is not lost. According to cryptocurrency price prediction platform CoinCodex, LINK is still expected to get a boost from pro-crypto sentiment. In January, the asset is eyeing a $40 high due to the impending Trump inauguration and the ultimate embrace of the asset class.
That should only continue throughout the year, the platform notes. Specifically, they expect the sentiment to culminate for Chainlink in May, when they project the asset to reach a monthly high of $75. That will likely be a yearly high, with the token establishing itself around the $45 mark for 2025 as a whole. Ultimately, it should maintain a position 120% above where it currently sits.
