Chainlink Price Prediction for January 25

Over the past 24 hours, Chainlink (LINK) has struggled to maintain its price above $26. Despite these challenges, buyers remain bullish as the price of LINK appears poised for further gains. Currently, it hovers around the same price levels seen in early January. The fear/greed index has also risen, now indicating a greed sentiment at level 61. However, Chainlink’s trading volume has seen a significant decline, dropping by 45.6% in the last 24 hours to $642.8 billion.

In a broader view, LINK’s price has been on a downward trend since mid-December, decreasing from a high of $31 to approximately $18 two weeks ago. Despite this decrease, there remains substantial buying interest and market activity, suggesting that its current price is within a potential buying range. However, over the last 24 hours, its market capitalization has declined by 3.65%, reaching $15.98 billion.

LINK Faces a Drop in Whale Interest

The cryptocurrency market is currently on the rise after Trump signed several executive orders that support the crypto market. This action has sparked a lot of buying, leading to a spike in total liquidations. In the past 24 hours, Chainlink (LINK) has been very active in trading.

Coinglass reports that about $1.33 million worth of LINK trades were liquidated, with $1.23 million of these being from buyers closing their long positions, while sellers liquidated about $104K worth of positions.

Recently, there’s been less interest in trading Chainlink. The open interest, which is the total number of open derivative contracts, has fallen to $1.08 billion, indicating a 5.1% drop in demand.

Additionally, interest from big investors, or “whales,” has significantly decreased. According to IntoTheBlock, the volume of large transactions has been falling over the last few days, dropping from a high of $542 million to $149 million, which suggests that whales are pulling back. This might lead to less price volatility for LINK, potentially pushing the price further down.

Chainlink Price Prediction: Technical Analysis

The LINK price has been facing multiple rejections around the $27. Right now, Chainlink’s price is at $24.9, having dropped over 3.6% in the last 24 hours.

The LINK/USDT trading pair is close to $26 and it might struggle to rise above the immediate Fibonacci channels. With the Relative Strength Index (RSI) still in the buying zone at level 47, there’s a chance Chainlink’s price could rise above $27. 

On the other hand, if the price falls below the 20-period Exponential Moving Average (EMA20) on the 1-hour chart, sellers might push it down towards the $22 range.

LINK Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, LINK price might continue to hover below $27. On the downside, $22 is the range.   

Long-term: According to the current Chainlink price prediction by Coincodex, the price of Chainlink is expected to rise by 21.75% and reach $31.92 by February 23, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bullish, while the Fear & Greed Index indicates a score of 75, categorized as Greed. Over the past 30 days, Chainlink has experienced 16 out of 30 green days, with a price volatility of 8.63%. Based on this forecast, it is considered a good time to buy 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.