Chainlink (LINK) continued its upward trajectory this past week, climbing 25% on the charts over the last seven days. LINK is up nearly 100% in the last month, and is eying new all-time highs according to price predictions. The altcoin is a fan favorite amongst crypto whales, and its price predictions are now breaching $60 expectations.
One analyst predicts a potential Chainlink price rally to $60 as LINK recorded a surge of 5% in the last 24 hours. Alan Santana predicts that this surge can happen before 2024 ends, as long as LINK follows several key indicators. Santana notes that LINK has an “immediate resistance” of $32 and $35, which must be crossed. The next levels for the crypto stands at $47 and $53. If it surges past $53, the next target for the altcoin will be $61, a near 200% surge.
Fellow market analyst Ali Martinez, meanwhile, paints a much more conservative picture for Chainlink. Martinez says that if LINK reaches and holds above the $30.4 mark, it could potentially target $34. Being a much more reasonable surge, $34 is certainly attainable if the Chainlink altcoin follows the ongoing altcoin surge and Bitcoin’s rise.
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BTC claimed $105,000 on Monday, helping the general crypto market pump upwards. Chainlink and other cryptocurrencies rise along with Bitcoin, as well as fall. LINK has also witnessed an increase in whale purchases. According to LookOnChain, a whale wallet spent $4.94 million to buy 175,424 coins on Dec. 12, 2024. LINK’s price breached the $30 mark earlier today. Open interest in the project hit a high of $860 million. Even with a further bump for BTC in 2024 or a further whale surge though, a 200% rally for LINK in the final two weeks of 2024 seems very steep.
According to CoinCodex analysts, LINK will hit $41.55 on Jan. 17, 2025. The platform further anticipates the asset to hit a new all-time high of $63.08 on Feb. 21, 2025. Hitting $63.08 from current price levels will entail a rally of about 136.52%. The overall consensus is that LINK will not hit $60 in 2024, but in 2025, it is certainly possible.
