Chainlink Price Prediction for March 19

Over the past 24 hours, the price of Chainlink (LINK) attempted to surge above the $14 mark but failed. As a result, the price is now consolidating within a bearish region below $14 resistance. The fear/greed index has dropped, now showing a fear sentiment at level 23. Meanwhile, Chainlink’s trading volume has dropped by 0.16% in the last 24 hours, reaching $330 million.

Looking at the longer trend, LINK’s price has been declining since mid-December, dropping from a high of $31 to about $15 on 3 February. In recent weeks, LINK price has been facing strong bearish pressure as bears strongly defend a surge above $15. In the last 24 hours, its market capitalization has surged by 0.07%, hitting $9.15 billion.

LINK’s Large Transaction Volume Remains Flat

Over the last 24 hours, the LINK price has been attempting to surge above the immediate resistance line. However, it faces strong bearish domination around the $14 mark. Amid the consolidation, the large transaction volume remains flat. Data from IntoTheBlock shows that the whale volume dropped from the peak of $1.01 billion to a low of $68.8 million. Interestingly, the volume has been consolidating below $100 million for the last few days, suggesting declining trading interest among whales.

In the last 24 hours, Chainlink has seen significant trading activity. According to Coinglass, about $727K in LINK trades occurred, with long liquidations accounting for $498K of this volume. On the other hand, sellers liquidated around $229K worth of positions.

Amidst this bearish pressure, interest in Chainlink trading has dropped. Open interest, which tracks the total number of outstanding trading contracts, has dropped to $460 million, reflecting a 0.02% drop in the last 24 hours.

Chainlink Price Prediction: Technical Analysis

Chainlink is currently feeling some market pressure as it struggles to break above the $14 level. Despite this, buyers are actively defending key Fibonacci support levels. Presently, Chainlink is trading at $13.93, reflecting a slight decline of 0.14% in the last 24 hours.

The trading dynamics for the LINK/USDT pair indicate persistent seller resistance, preventing any sharp price increases. With the Relative Strength Index (RSI) sitting just above the neutral point at 52, there might be room for Chainlink to push upward, potentially retesting its descending resistance line.

If Chainlink manages to secure a position above this critical juncture, we could see a rise to $18.12, and possibly extending to $22 if the upward momentum is sustained. On the flip side, a dip below the $11.7 mark could lead to a substantial market pullback for Chainlink.

LINK Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, LINK price might continue to surge. If the price maintains its current momentum, we might see $18.12. On the downside, $11.71 is the range.   

Long-term: According to Coincodex’s Chainlink price prediction, the value of Chainlink is expected to increase by 30.37%, reaching $18.11 by April 18, 2025. Their technical indicators suggest a bearish sentiment, while the Fear & Greed Index indicates a level of 32, categorized as ‘Fear’. Over the past 30 days, Chainlink has experienced 14 out of 30 green days, demonstrating a price volatility of 11.48%. Based on this forecast, it is currently considered an unfavorable time to purchase Chainlink.

Investment Risks for Chainlink

Investing in LINK price can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.