Chainlink

<div class="finbold">
 <p class="paragraph">Chainlink (LINK), the leading Oracle blockchain in the market, has promising potential as tokenization of real-world assets (RWA) gets mainstream. Now, on-chain <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> indicates LINK could set for a 50% gain <a rel="noopener noreferrer nofollow" title="opportunity" href="https://thebittimes.com/tag/opportunity.html">opportunity</a> from current prices for the following weeks.</p>
 <p class="paragraph">Ali Martinez, who goes by <em>@ali_charts</em> on X (formerly Twitter), posted the Chainlink <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> on April 17. In particular, Martinez highlights historical patterns involving the 30-day Market Value to Realized Value (MVRV) relation to LINK’s price.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Each time Chainlink MVRV 30-Day Ratio has dropped below -12.24% since August 2022, it’s signaled a prime buying <a rel="noopener noreferrer nofollow" title="opportunity" href="https://thebittimes.com/tag/opportunity.html">opportunity</a>, averaging 50% returns! Currently, LINK MVRV 30-Day Ratio stands at -17.54%. This could be another chance to buy the LINK dip!”</p> <cite>– Ali Martinez</cite>
 </blockquote>
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 <p class="paragraph">Notably, LINK has gained 53%, 37%, 55%, 49%, 80%, and 49% each time this pattern played out. Should this pattern repeat, Chainlink investors could accrue significant returns from the current exchange rate.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="459" src="https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp" alt class="wp-image-169649" srcset="https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp 1024w, https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp 300w, https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp 768w, https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp 1536w, https://cdn.thebittimes.com/images/2024/04/17/ce705650556df1d6f483f7a24bd4dbc1.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Chainlink (LINK) 30-day MVRV. Source: <em>Santiment/@ali_charts</em>&nbsp;
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-chainlink-link-price-analysis-50-gains-incoming">Chainlink (LINK) price analysis: 50% gains incoming?</h2>
 <p class="paragraph">LINK trades at $13.24 as of writing, testing a key short-term support level. Previously, this level supported Chainlink’s price for a few days in November 2023 and January 2024.</p>
 <p class="paragraph">However, the 50-day exponential moving average (EMA) was an important reference point, strengthening the observed support level, which has changed. LINK lost the 50-EMA that currently fluctuates around $17.45 per token.</p>
 <p class="paragraph">Furthermore, the Relative Strength Index (RSI) also suggests a different scenario, showing a bearish outlook under weak momentum. On the other hand, the current oversold daily RSI is often seen as a buy signal.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp" alt class="wp-image-169650" srcset="https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp 1024w, https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp 300w, https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp 768w, https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp 1536w, https://cdn.thebittimes.com/images/2024/04/17/4d4b1ba4c596c4e743dca919e68bab09.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LINK/USD, daily price chart. Source: <em>TradingView</em>/Finbold
  </figcaption>
 </figure>
 <p class="paragraph">In summary, Ali Martinez has spotted a solid on-chain historical pattern that suggests a potential 50% for Chainlink moving forward. Such a rally could propel LINK to nearly $20, testing a psychological resistance above the 50-day EMA.</p>
 <p class="paragraph">Technical indicators display a bearish sentiment for the token, but going to extremes could forecast a potential shift. The cryptocurrency market remains uncertain, and its natural volatility brings risks and opportunities for speculators trading cryptocurrencies.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/price-prediction-for-chainlink-link-amid-50-gains-opportunity-tbt85608.html">https://thebittimes.com/price-prediction-for-chainlink-link-amid-50-gains-opportunity-tbt85608.html</a></p>

Price prediction for Chainlink (LINK) amid 50% gains opportunity

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