- Chainlink ($LINK) is trading at $11.41, down 2.60% over the past 24 hours.
- Despite recent losses, $LINK has maintained a bullish structure since Q4 2023.
- Long-term forecasts project a potential 67.1% return by April 2025.
Chainlink ($LINK), is currently priced at $11.41 following a 2.60% decline in the last 24 hours. Trading volume over the past 24 hours reached approximately $574.22 million, signaling ongoing market interest despite short-term price weakness.
In the week, $LINK has experienced a flat trend, losing 15.90% in value. This decline is opposite the overall upward movement seen since late in 2023, as the overall cryptocurrency market made a sustained surge.
The pullback of late is indicative of broader market sentiment as opposed to any change in Chainlink fundamentals. It is still among the leading performing large-cap alternative coins with consistent higher highs and higher lows since the fourth quarter of 2023.
Chainlink Weekly Analysis Bullish Since Q4 2023
A weekly chart analysis of LINK, based on TradingView data, reflects an overall bullish trend that started in Q4 of 2023. In it, a logarithmic scale is utilized in order to pinpoint growth over a broad range and three significant areas of accumulation where extended sideways movement preceded swift increases are noted. Those phases returned +38%, +142%, and +212%, respectively.
Supporting this momentum is increasing institutional demand. Chainlink’s foundational oracle technology has attracted the attention of leading financiers. The protocol’s compatibility with SWIFT, and comments made about it by asset management giants such as BlackRock, portend an increasing institutional demand.
These events have boosted faith in the long-term sustainability of LINK as an integral contributor in blockchain technology infrastructure. Breakout periods create volume surges as investors’ fervor is once again supported, with volume-weighted average price (VWAP) offering supporting technical validation.
The VWAP alignment with the trendline confirms that current price action continues in line with a bull continuation pattern.
Chainlink Expected ROI of 67.1% by April 2025
In the future, analysts at Changelly are predicting a comeback for Chainlink in 2025. For April of 2025, experts predict between $14.08 and $19.62, with an average price of $16.85, based on an expected return on investment (ROI) of as high as 67.1% from their current levels.
Wider annual projections indicate a minimum price for LINK of $15.86 and a maximum of $17.74, based on technical trends as well as market cycles. While near-term volatility continues, the long-term path for Chainlink is bullish.