Chainlink, a platform compatible with Ethereum and renowned for facilitating decentralized oracles, has been making significant progress in the cryptocurrency market. Currently, the native asset of the network, LINK, is experiencing a trading range near $14, according to the latest data.
CoinGecko data also shows that LINK is down by 1% in price in the last 24 hours and is trading at $13.92. With the market trading in red, here is our price prediction for LINK for May.
Also read: Top 3 Meme Coins For 10X Gains To Include In Your Portfolio
Chainlink price prediction for May
LINK has demonstrated remarkable performance throughout this year, positioning itself as one of the top-performing assets. However, in the past 30 days alone, this altcoin has recorded a 27% drop in its price. Despite being 73.5% below its previous all-time high of $52.70, the prospect of it reaching double-digit values is more attainable than ever before.
Cryptocurrency experts at Changelly have given their price prediction for Chainlink LINK for May. According to the analysts, LINK is forecast to reach a minimum of $14.86 and a maximum of $20.91. Additionally, the average price of LINK is expected to be in the range of $17.89.
Also read: Shiba Inu: AI Predicts SHIB Price For May 1, 2024
Looking further ahead, Changelly’s experts predict that LINK could potentially hit the $29 mark by December 2025. This longer-term projection reflects the growing confidence in Chainlink’s ability to establish itself as a leading decentralized oracle solution and capture a significant share of the market.
However, the market can be quite surprising and could go in either direction depending on the overall market sentiment. Unless Bitcoin gains traction and regains the $70,000 level, LINK is likely to exhibit muted performance.
Also read: Shiba Inu: ChatGPT Predicts When SHIB Could Hit $0.01
Credit: Source link
