ChainLink Price Prediction – NO Hype and Stable Uptrend…Is it a Good Investment?

The recent craze of a successful 20k hit the cryptocurrency market, having the majority of cryptocurrencies skyrocket in their prices. That wasn’t the case for ChainLink, which continued on its normal uptrend. While some would invest in volatile coins, others prefer slow and steady alternatives. Should you consider buying ChainLink and include it in your cryptocurrency portfolio?

ChainLink Price Prediction – A LESS volatile alternative

When Bitcoin first reached its highly anticipated price of 20k, most cryptocurrencies’ prices shot higher than 10% for the day, while most were up more than 50% in 1 week, like Litecoin. For ChainLink, it was a different scenario. That coin was up 7% on the day of the big news, but compared to its general trend, it was merely a rebound in its uptrend channel (fig. 1).

LINK/USD 1-Day chart – Uptrend channel continuation
Fig.1 LINK/USD 1-Day chart – Uptrend channel continuation – TradingView

ChainLink learning from past experiences?

Back in July 2020, ChainLink’s price skyrocketed from USD 4.7 all the way to USD 20, making a whopping 325% within 40 days. As usual, this craze ended badly for people buying above USD 15, and the price corrected back to normal levels (fig.2).

LINK/USD 1-Day chart – The rise and fall of Summer 2020
Fig.2 LINK/USD 1-Day chart – The rise and fall of Summer 2020 – TradingView

Today, the price was still moving in its original uptrend channel, with nothing out of the ordinary to be witnessed. On usual days, ChainLink was appreciating in value. It is very normal to see a healthy increase in its prices in tandem with the Dominant coin BTC.

LINK/USD 1-Day chart – steady uptrend with a previous fakeout
Fig.3 LINK/USD 1-Day chart – steady uptrend with a previous fakeout – TradingView

ChainLink Quick Stats

  • Current Price: USD 13.85
  • Yearly Low: USD 1.4
  • Yearly High: USD 20
  • Worldwide crypto rank by market cap: #7

Currently, ChainLink’s price is up 2% in the last 24 hours, and 19% in the past 7 days. Reaching its previous all-time high is a short-term target, and can be a nice profit-taking area for traders who want to own the coin at current prices, with a stop-loss level of around USD 10.

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Rudy Fares

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