Chainlink (LINK) price headed for $38 in January: 4 reasons why

Chainlink has not been nearly as exciting for investors in recent months as the likes of XRP or the BTC itself.

But the market dynamics are evolving quickly, with several factors indicating potential for a near-term explosive rally in LINK.

Chainlink to rally sharply in January

Source: Brave New Coin Bitcoin Liquid Index (BLX)

Chainlink continues to cement its position in the decentralized oracle space and the convergence of institutional adoption, technical strength, and expanding use cases could push the price of its native altcoin to $38 in 2025.

Here are the top 4 reasons that suggest the aforementioned price target is not just ambitious – it’s actually very achievable.

Chainlink has already secured a strategic partnership with a Trump-backed decentralized finance (DeFi) platform called World Liberty Financial – and there have already been rumors that its next tie-up may be with BlackRock.

If the world’s largest asset manager announces an alliance with Chainlink, it could validate its oracle services and attract more institutional investors to LINK. The potential outcome: a massive increase in the token’s utility that may propel it to a new high.

While still speculative, rumors of a potential partnership with BlackRock could continue to serve as a tailwind for Chainlink and help it rally to $38 or close to 70% from current levels in January.

LINK to extend its rally in January

Source: Cryptoeq.io

Chainlink’s price dropped to a low of $20 amidst a broader crypto market sell-off on Monday.

But whales saw it as a buying opportunity and loaded up on more than $40 million worth of LINK, reiterating their endorsement for a token they expect will emerge as a profit machine in 2025.

Additionally, there’s been a meaningful increase in investors’ interest in Chainlink over the past 24-hours. LINK saw its trading volume jump from a little over $800 million to well past $1.00 billion on Monday.

The spiral in trading volume is typically indicative of near-term upside that may push Chainlink price well past $35 next month.

A quick look at Chainlink’s price chart confirms the crypto token is in an ascending channel at writing.

It has made higher highs and higher lows since the final week of November – with the next move up slated to take LINK to a new high of $38 in January.

Plus, the crypto asset is reaching out to its 50-day MA on the 4H chart. A break above $25 could, therefore, unlock the next leg up in Chainlink – and its relative strength index at 45 currently is well below the overbought territory to let that happen in the near term, most likely in January.

Chainlink technicals indicate further upside

Source: TradingView

The new year could mark a step change for the crypto market at large as Donald Trump takes office on January 20th.

Experts are already projecting a string of executive orders within the first 100 days of Trump 2.0 – some of which may warrant celebration for the crypto industry.

“There has been an effort in the Washington bureaucratic swamp to stifle innovation … but President Trump will deliver on his promise to encourage American leadership in crypto,” Brian Hughes – a spokesperson for the President-elect’s transition team said in a recent statement.

As investors rush into cryptocurrencies on the back of Trump making good on his promise of making America a crypto superpower, some of the capital may land in LINK and help it rally to a new high in the final week of January.

The above-mentioned factors have made several crypto analysts announce ambitious price targets for Chainlink. Ali Martinez, for example, expects the crypto token to hit $32 in early 2025.

Similarly, Alan Santana, sees LINK surpassing $35 in the near term. Michael van de Poppe – the founder and chief investment officer of MN Consultancy even dubbed it a “blue chip” investment in a recent post on X.com.

All in all, while price predictions in the cryptocurrency market always carry inherent uncertainty, the combination of aforementioned factors presents a compelling case for Chainlink’s potential rally to $35 in January.

 

Brave New Coin – Read More   

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *