Chainlink Price Hits $30 For The First Time Since 2022 — What Next?

Source Newsbtc

The Chainlink price has been on quite a run in the past few months, but so has the entire cryptocurrency market. While the general market has somewhat cooled off in recent weeks, the price of LINK has continued to impress at the end of the year.

As it looks to reclaim its current all-time high, the Chainlink price has returned to around the $30 mark for the first time in more than two years. According to a prominent analyst on the social media platform X, the altcoin’s rally is only just beginning, with a new price target already in sight.

How Chainlink Price Can Move Up To $34 

In a recent post on the X platform, popular crypto pundit Ali Martinez shared an interesting prognosis for the price of Chainlink over the next couple of days. The analyst explained that LINK’s current price layout suggests a bullish breakout might be on the horizon for the altcoin.

This bullish prediction is based on the formation of an ascending triangle pattern on the 1-hour timeframe of the LINK price chart. The ascending triangle is a chart pattern used in technical analysis that is characterized by a horizontal line connecting the swing highs and a rising trendline along the swing lows.

Typically, ascending triangles are regarded as continuation patterns, as the price often breaks out in the same direction as the initial trend forming the triangle. While a break out of the horizontal line is the most likely scenario, a breach of the trend line is also possible.

Chainlink price

As observed in the highlighted chart, the Chainlink price has been hovering around the upper horizontal line, just above the $30 level. According to Martinez, if the price of LINK does break this upper line, an hourly candlestick needs to close above the $30.4 mark, for it to be considered a successful breach.

The crypto analyst noted that if the Chainlink price does successfully break above the upper horizontal line, it could travel as high as $34 in the next couple of days. This would represent a 15% surge from the altcoin’s current price point.

LINK Price Overview

As of this writing, the Chainlink token is valued at around $29.25, reflecting an almost 5% price increase in the past 24 hours. The altcoin’s performance on broader timeframes is even more impressive, surging by over 17% in the past week.

According to data from CoinGecko, the LINK price has skyrocketed by more than 120% in the past 30 days. This places the coin as the 13th-largest cryptocurrency in the digital asset sector, with a market capitalization of over $18.3 billion.

Chainlink price
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Dogecoin Flashes Multiple Bullish Flags All Pointing To $1The dream of seeing Dogecoin trade at $1 remains alive among its community of loyal investors, even as the meme coin continues to struggle below the $0.20 mark.
Author  Bitcoinist
Apr 27, Sun
The dream of seeing Dogecoin trade at $1 remains alive among its community of loyal investors, even as the meme coin continues to struggle below the $0.20 mark.
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
placeholder
Pound Sterling corrects against US Dollar after US court reinstates Trump tariffsThe Pound Sterling (GBP) drops to near 1.3475 against the US Dollar (USD) in Friday’s European trading session.
Author  FXStreet
17 hours ago
The Pound Sterling (GBP) drops to near 1.3475 against the US Dollar (USD) in Friday’s European trading session.
goTop
quote