Here’s Why $100 Chainlink Price Target is “No Brainer”

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As a seasoned researcher with over two decades of experience in the financial market, I have seen my fair share of bull runs and bear markets. However, the current momentum behind Chainlink (LINK) is truly exceptional. The recent 10% rally, pushing LINK’s monthly gains to an impressive 53%, has certainly caught my attention.

Last week, Chainlink surged by 10%, causing its monthly growth to reach an impressive 53%. This remarkable rise in LINK has sparked optimism among investors about the token’s future. Many are anticipating a significant upward trend for Chainlink. Interestingly, one analyst predicts that the Chainlink price might soar up to $100 during this bull run.

In more straightforward terms: The price of Chainlink has drawn attention recently, increasing by 10% in just the last week. This growth has pushed its monthly gains past 53%. At present, this is what we’re seeing. Beyond the influence of Bitcoin, the main reason for LINK’s surge is an increase in cross-chain integration. Just ten days ago, the crypto coin managed to break through the $13.00 resistance level, setting a solid foundation for further growth.

Why Chainlink Price Could Hit $100 This Bull Run

As a researcher, I find myself in agreement with the optimistic outlook of prominent market analyst Lucky, whose extensive following on X exceeds 2.2 million. His positive sentiment towards Chainlink’s price growth is largely fueled by the increasing institutional adoption he sees as a primary catalyst for this bullishness.

$LINK on fire, up 80% and institutions adopting now!

With all this adoption, $LINK to $100 seems like a no-brainer.

What’s your target for @chainlink?

— Lucky (@LLuciano_BTC) November 25, 2024

Chainlink is actively connecting on-chain finance with a unified network of smart contracts, often referred to as the ‘Internet of Agreements’. Notable financial entities such as Sygnum Bank, Fidelity, Citi, UBS, BNP Paribas, and others have joined this initiative to bridge the divide between Decentralized Finance (DeFi) and traditional finance. In the recent past week, Chainlink has successfully integrated with eight platforms, including Arbitrum, Ethereum, Bitcoin, Base, and Astar blockchains. These collaborations are expected to significantly boost LINK’s functionality, potentially igniting a surge in its price towards the $100 threshold.

A significant development for Chainlink is its new collaboration with World Liberty Financial (WLF), a cryptocurrency-centric institution that has the support of President-elect Donald Trump. WLF intends to expand Decentralized Finance (DeFi) within traditional financial systems. This endeavor received a boost from a $30 million investment by Tron founder Justin Sun. With Trump taking office, there may be a more lenient regulatory environment in the finance sector, potentially leading to wider DeFi adoption and possibly pushing Chainlink’s price into triple-digit figures.

Inevitable.

— Chainlink (@chainlink) November 14, 2024

LINK Price Analysis: Short-term Outlook Hints at 11% Rally

The weekly graph indicates that Chainlink’s price is currently facing a significant obstacle. This hurdle combines a downward trend line drawn from the highest points since 2021 and a flat barrier at approximately $16,73. As the recent upward movement of Chainlink encounters this combined resistance, it presents a critical juncture – a potential make-or-break moment for its trend. However, due to the recent drop in Bitcoin’s price, there may be a temporary halt in the Chainlink uptrend.

Despite the weekly RSI appearing to find support near the average 50 level and hinting at a revival of the upward trend, a breach over the $16.73 resistance mark would confirm the onset of this uptrend. If this occurs, LINK might aim for these potential levels:

  1. 50% Fibonacci Retracement Level at $28.28
  2. 100% Fibonacci Retracement Level at $53.00
  3. 161.8% Fibonacci Retracement Level at $82.81
  4. 261.8% Fibonacci Retracement Level at $131.05

The $28.28 resistance level could pose issues, and LINK could consolidate here before Chainlink price prediction hints at a swift move to the key psychological levels of $50 and $100.

Instead, if the value falls beneath the 50-mark median, it might initiate an extended drop, potentially correcting to the intermediate support at $12.53. Dropping below this level could undermine the bullish argument and push the price down towards $9.39.

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2024-11-26 19:10