Altcoin
Chainlink Price Soars 5% In Just 24 Hours; Will LINK Hit $60?
Chainlink price has noted a surge of over 5% today, catching the investors’ eyes while reflecting strong market confidence towards the asset. Notably, the rally comes due to a flurry of positive market trends surrounding the asset, which has boosted the traders’ sentiment. Besides, top market experts predict further LINK rally ahead, potentially setting the target to $60.
Chainlink Price Rally Amid Positive Market Trends
The surge of over 5% in Chainlink price comes amid a flurry of developments related to the project. Notably, the recent developments appeared to have boosted the market sentiments, with top experts anticipating more gains ahead for the crypto.
Notably, the recent surge of over 22% in Grayscale Chainlink Trust (GLNK) price also indicates strong market confidence towards the digital asset. Over the last 30 days, the investment instrument has soared more than 190%, bolstering market sentiment.
Meanwhile, this LINK price rally comes after the network’s Oracle network was integrated into Coinbase’s project Diamond. This integration announcement between Coinbase and the project has sparked significant discussions in the market as the top crypto exchange tapped LINK’s infrastructure to boost the Tokenized Asset ecosystem.
On the other hand, Donald Trump-backed World Liberty Financial (WLF) has made a significant investment in LINK. According to recent updates, WLF has spent $1 million to purchase 41,335 LINK recently, which showcased the project’s confidence in the project. In addition, with pro-crypto regulatory environment anticipation soaring with Donald Trump’s election win, this latest investment by the Trump-backed project has fueled discussions.
LINK Rally To $60 Imminent?
The latest LINK price chart showed that the crypto has surged 5.11% and exchanged hands at $29.90. Notably, the crypto has soared past the $30 mark recently, marking its highest level since 2021. Over the last 24 hours, LINK has touched a high of $30.72, while recording monthly gains of 105%. Furthermore, CoinGlass data showed that Chainlink Futures Open Interest rose nearly 6%.
Amid this, top crypto market expert Ali Martinez said that if LINK holds above the $30.4 mark, it could potentially target $34 next. Considering that, the investors are keeping a close track of LINK’s performance while anticipating a rally ahead. Besides, a recent LINK price prediction also showed that the crypto is likely to hit $35.95 by January 2025.
On the other hand, another popular market analyst Alan Santana also shared a bullish forecast for LINK. In a recent analysis, the expert said that Chainlink price is poised to hit $61 in the coming days.
However, he has highlighted certain conditions for LINK to hit the bullish target. For context, Santana noted 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 soar past the $53 mark, the next target for the crypto will be at $61. Furthermore, he even predicted that if the bullish momentum holds, it could potentially rally to $130 in 2025.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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