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$LINK Chainlink Price Prediction – Will the price increase by 100%?

 


In our last Chainlink price forecast , we asked ourselves whether the bull run for Chainlink is over. We then came to the conclusion that the price could soon drop to around $7. But what about the Chainlink course after 10 days? Could we rally another ~100% before heading to $7? We'll enlighten you!


The Chainlink price has been in a sideways phase for a few weeks / months. This sideways phase consists of the $15.56 support and the $34.83 resistance. Having arrived at the bottom of the rectangle, we expect the rate to rise over the next few weeks. This surge could theoretically continue until resistance. Thus, the price could rise by about 100% in the near future. But will it also happen that the Chainlink price increases by 100%?


Bitcoin price comparison


We expect Bitcoin price to rally to around $40,000 to confirm the break of former support. Meanwhile, the Chainlink price could also rise. But it is unlikely that the price will increase by around 100%. Instead, we expect an increase of around 10%, since the Bitcoin price would have to increase by 10% to reach $40,000. We do not expect that the Chainlink price will massively outperform the Bitcoin price in the next few weeks. Instead, we expect a breakout from the sideways phase. Thus, the rate could be $7 soon.

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