Is It Too Late To Buy LINK? Chainlink Price Increases 2% And This Might Be The Next Crypto To Explode

The
Chainlink
price
jumped
2%
in
the
last
24
hours
to
trade
at
$29.15
as
of
2:00
a.m.
EST
on
trading
volume
that
skyrocketed
45%
to
$3.6
billion.

The
LINK
price
also
surged
over
23%
on
the
weekly
chart,
which
closely
resembles
Bitcoin’s
performance.
This
comes
after
LINK
saw
a
small
price
boost
last
Friday,
rising
to
the
resistance
at
$26,
only
to
spend
most
of
the
last
weekend
trying
to
breach
it.

The
crypto
then
got
rejected
by
the
$20
mark
on
Monday,
only
for
the
price
to
start
another
increase
on
late
Tuesday,
which
brought
a
slow
increase
back
to
$24.
Yesterday,
the
price
shot
up
to
the
resistance
at
$30,
which
it
has
been
trying
to
breach
ever
since.

As
mentioned,
this
performance
closely
resembles
Bitcoin’s
price
surge,
with
the
pioneering
cryptocurrency
struggling
to
breach
the
resistance
at
$102.5K.
While
LINK
has
since
been
rejected
by
the
$29.15
barrier,
Bitcoin
has
also
dropped
to
$100K.

However,
Chainlink
did
see
some
positive
developments
recently
that
may
have
contributed
to
its
price
surge,
such
as
its
partnership
with
Coinbase,
announced
on
Dec.
10.

We’re
excited
to
announce
that
our
Project
Diamond
platform
is
integrating
the

@Chainlink
standard
for
onchain
finance.

Chainlink
will
unlock
utility
and
unify
liquidity
across
the
Project
Diamond
platform.

Learn
more:

https://t.co/VxSiAbqxpo

pic.twitter.com/6LkaSNuz2G

—
Coinbase
Institutional
????️
(@CoinbaseInsto)

December
10,
2024

Chainlink
Price
Prediction

Following
its
price
surge
which
took
it
to
a
3-year
high
at
$30.76,
the

LINK
price
saw
a
correction
to
a
support
at
$29.
However,
its
technical
indicators
are
already
showing
signs
of
a
potential
recovery.

The
project’s
Bollinger
Bands
have
narrowed
after
reaching
the
resistance
at
$30,
but
have
since
started
widening
again,
which
is
a
positive
signal.
The
price
still
performed
negatively
over
the
last
few
hours,
dropping
first
to
the
middle
point
of
the
indicator,
and
eventually
sinking
to
the
lower
line
of
the
Bollinger
Bands.

However,
as
of
the
time
of
writing,
it
is
already
recovering
and
heading
back
to
the
middle
point,
suggesting
that
the
price
might
see
another
increase
throughout
the
day.

The
crypto’s
Relative
Strength
Index
(RSI)
also
shows
that
the
traders
have
engaged
in
a
sell-off
after
the
price
reached
its
3-year
peak.
The
RSI
started
spiraling
down,
and
while
it
initially
seemed
like
it
would
bounce
back
up
after
reaching
the
neutral
zone,
it
eventually
started
dropping
further.

Since
then,
its
descent
has
slowed
down
somewhat,
showing
hesitance
to
push
it
into
the
oversold
zone,
although
it
is
not
impossible
for
this
to
eventually
happen.
Still,
with
Bitcoin
starting
to
recover
from
its
own
drop,
the
altcoin
market,
LINK
included,
could
start
recovering
as
well.

However,
it
is
worth
noting
that
the
uncertainty
is
high
in
the
market
right
now,
and
that
unpredictable
fluctuations
are
a
strong
possibility.
Therefore,
traders
need
to
remain
cautious.

Promising
Alternative
To
Chainlink

While
Chainlink
finally
started
rising
back
to
its
2021
heights,
the
price
has
encountered
strong
resistances
along
the
way
which
are
currently
blocking
its
path
forward.
As
a
result,
many
are
looking
into
alternative
investments,
with

Best
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