{"id":31586,"date":"2023-10-28T12:53:10","date_gmt":"2023-10-28T16:53:10","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31586"},"modified":"2023-10-28T12:53:10","modified_gmt":"2023-10-28T16:53:10","slug":"analyst-forecasts-chainlink-link-to-fall-below-10-following-massive-price-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/28\/analyst-forecasts-chainlink-link-to-fall-below-10-following-massive-price-surge\/","title":{"rendered":"Analyst Forecasts Chainlink (LINK) To Fall Below $10 Following Massive Price Surge"},"content":{"rendered":"

Chainlink (LINK) has emerged as one of the top cryptocurrencies in the last week following an impressive market performance which saw the token gain by 46.49% in the past seven days<\/a>.<\/p>\n

Even amidst whale movements,<\/a> which suggest that investors are taking profit, LINK has managed to maintain its bullish momentum, gaining by 6.10% in the last day to above the $11 mark.<\/p>\n

However, despite the positive sentiment that has currently overwhelmed the LINK market, some analysts believe the token may be due for a major retracement.\u00a0<\/p>\n

LINK To Fall Below $10: Is The Bullish Run Over?<\/strong><\/h2>\n

In a post on X<\/a> on Friday, crypto analyst Altcoin Sherpa shared a prediction that LINK may soon experience a price dip, falling as low as $9.50.\u00a0<\/p>\n

However, Altcoin Sherpa notes that this potential price loss may not spell the end of LINK\u2019s bullish phase. In fact, the analyst describes the token\u2019s price coming down as \u201chealthy.\u201d\u00a0<\/p>\n

$LINK<\/a>: Be patient marines, coming down a bit is healthy. $9.50 would be great. #LINK<\/a> pic.twitter.com\/eJBdkFar4o<\/a><\/p>\n

\u2014 Altcoin Sherpa (@AltcoinSherpa) October 27, 2023<\/a><\/p>\n\n

According to Sherpa\u2019s prediction, LINK\u2019s slide below $10 could simply be a price recorrection before the token resumes its upward trajectory.\u00a0If this forecast proves true, many traders could view this $9.50 region as a great entry zone.<\/p>\n

Interestingly, Cryptonary, another analyst on X, has recently shared a similar price prediction.<\/p>\n

In a post<\/a> on Thursday, Cryptonary called for much caution in the LINK market, stating the crypto asset may not sustain its current high price levels for long.\u00a0<\/p>\n

To back up this forecast, the analyst states the Relative Strength Index (RSI) shows that Chainlink is currently in the overbought zone, which indicates a price pullback lies on the horizon.<\/p>\n

Although many traders have opened long positions on LINK as indicated by the market\u2019s positive funding rates, Cryptonary has advised investors against \u201cjoining the crowd\u201d<\/p>\n

LINK surged 60% in 6 days: What’s next?<\/p>\n

LINK is overbought, but can it sustain at these higher levels here? In our experience, moves that go straight up aren\u2019t usually sustainable. But let\u2019s find out what the charts say!<\/p>\n

Technical analysis<\/p>\n

LINK has been able to hold up at\u2026 pic.twitter.com\/nVvpYPKp1t<\/a><\/p>\n

\u2014 Cryptonary (@cryptonary) October 26, 2023<\/a><\/p>\n\n

Similar to Altcoin Sherpa, the analyst predicts LINK\u2019s price to fall to $9.67 for a short-term retracement. However, with strong selling pressure, Cryptonary states that LINK could trade as low as $8.\u00a0<\/p>\n

At the time of writing, LINK trades<\/a> around $11.54 with a 0.25% gain on the last day. Meanwhile, the token\u2019s trading volume is up by 8.01% and valued at $824.92 million.\u00a0<\/p>\n

Chainlink Records Partnership Streak<\/strong><\/h2>\n

In other news, Chainlink recently shared with the crypto community its streak of collaborations with major traditional brands in promoting the adoption of blockchain technology.<\/p>\n

#Chainlink<\/a> is collaborating with key players across the global economy:<\/p>\n

1. Swift\u2014Standard messaging network for 11K+ banks
\n2. DTCC\u2014World\u2019s largest securities settlement system, processing $2+ quadrillion annually
\n3. ANZ\u2014Leading Australian bank with $1T+ in AUM
\n4. Vodafone\u2026<\/p>\n

\u2014 Chainlink (@chainlink) October 27, 2023<\/a><\/p>\n

In a thread<\/a> posted on X on Friday, the blockchain highlighted its partnership with the Swift payment company aimed at facilitating the seamless transfer of tokenized assets across multiple chains using Chainlink\u2019s Cross Chain Interoperability Protocol\u00a0 (CCIP).\u00a0<\/p>\n

In addition to Swift, Chainlink also discussed its partnership with the Depository Trust and Clearing Corporation, the Australia and New Zealand Banking Group Limited, and Vodafone Digital Asset Breaker (DAB).<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink (LINK) has emerged as one of the top cryptocurrencies in the last week following an impressive market performance which saw the token gain by 46.49% in the past seven days<\/a>.<\/p>\n

Even amidst whale movements,<\/a> which suggest that investors are taking profit, LINK has managed to maintain its bullish momentum, gaining by 6.10% in the last day to above the $11 mark.<\/p>\n

However, despite the positive sentiment that has currently overwhelmed the LINK market, some analysts believe the token may be due for a major retracement.\u00a0<\/p>\n

LINK To Fall Below $10: Is The Bullish Run Over?<\/strong><\/h2>\n

In a post on X<\/a> on Friday, crypto analyst Altcoin Sherpa shared a prediction that LINK may soon experience a price dip, falling as low as $9.50.\u00a0<\/p>\n

However, Altcoin Sherpa notes that this potential price loss may not spell the end of LINK\u2019s bullish phase. In fact, the analyst describes the token\u2019s price coming down as \u201chealthy.\u201d\u00a0<\/p>\n

$LINK<\/a>: Be patient marines, coming down a bit is healthy. $9.50 would be great. #LINK<\/a> pic.twitter.com\/eJBdkFar4o<\/a><\/p>\n

\u2014 Altcoin Sherpa (@AltcoinSherpa) October 27, 2023<\/a><\/p>\n

According to Sherpa\u2019s prediction, LINK\u2019s slide below $10 could simply be a price recorrection before the token resumes its upward trajectory.\u00a0If this forecast proves true, many traders could view this $9.50 region as a great entry zone.<\/p>\n

Interestingly, Cryptonary, another analyst on X, has recently shared a similar price prediction.<\/p>\n

In a post<\/a> on Thursday, Cryptonary called for much caution in the LINK market, stating the crypto asset may not sustain its current high price levels for long.\u00a0<\/p>\n

To back up this forecast, the analyst states the Relative Strength Index (RSI) shows that Chainlink is currently in the overbought zone, which indicates a price pullback lies on the horizon.<\/p>\n

Although many traders have opened long positions on LINK as indicated by the market\u2019s positive funding rates, Cryptonary has advised investors against \u201cjoining the crowd\u201d<\/p>\n

LINK surged 60% in 6 days: What’s next?<\/p>\n

LINK is overbought, but can it sustain at these higher levels here? In our experience, moves that go straight up aren\u2019t usually sustainable. But let\u2019s find out what the charts say!<\/p>\n

Technical analysis<\/p>\n

LINK has been able to hold up at\u2026 pic.twitter.com\/nVvpYPKp1t<\/a><\/p>\n

\u2014 Cryptonary (@cryptonary) October 26, 2023<\/a><\/p>\n

Similar to Altcoin Sherpa, the analyst predicts LINK\u2019s price to fall to $9.67 for a short-term retracement. However, with strong selling pressure, Cryptonary states that LINK could trade as low as $8.\u00a0<\/p>\n

At the time of writing, LINK trades<\/a> around $11.54 with a 0.25% gain on the last day. Meanwhile, the token\u2019s trading volume is up by 8.01% and valued at $824.92 million.\u00a0<\/p>\n

Chainlink Records Partnership Streak<\/strong><\/h2>\n

In other news, Chainlink recently shared with the crypto community its streak of collaborations with major traditional brands in promoting the adoption of blockchain technology.<\/p>\n

#Chainlink<\/a> is collaborating with key players across the global economy:<\/p>\n

1. Swift\u2014Standard messaging network for 11K+ banks
\n2. DTCC\u2014World\u2019s largest securities settlement system, processing $2+ quadrillion annually
\n3. ANZ\u2014Leading Australian bank with $1T+ in AUM
\n4. Vodafone\u2026<\/p>\n

\u2014 Chainlink (@chainlink) October 27, 2023<\/a><\/p>\n

In a thread<\/a> posted on X on Friday, the blockchain highlighted its partnership with the Swift payment company aimed at facilitating the seamless transfer of tokenized assets across multiple chains using Chainlink\u2019s Cross Chain Interoperability Protocol\u00a0 (CCIP).\u00a0<\/p>\n

In addition to Swift, Chainlink also discussed its partnership with the Depository Trust and Clearing Corporation, the Australia and New Zealand Banking Group Limited, and Vodafone Digital Asset Breaker (DAB).<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31586","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31586"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31586\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31586"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}