Chainlink price has suffered a big reversal in the past two weeks, but one top crypto analyst expects its price to surge in 2025.
Chainlink (LINK) dropped to $20.25 on Monday, Dec. 30, down by 35% from its highest level this year. This decline was in sync with Bitcoin and other cryptocurrencies, which have shed billions in value this month.
In an X post, Michael van de Poppe, a prominent crypto pundit with over 748,000 followers on X, said that Chainlink’s uptrend had just begun. He believes the coin is now in search of higher lows and that its valuation in Bitcoin terms remains significantly low.
Request 02 – $LINKThe uptrend has begun. It's now searching for a higher low, however, the valuation of Chainlink against Bitcoin is still super low. I expect a lot of upside to come for LINK in 2025. pic.twitter.com/RBccFUf7oD
— Michaël van de Poppe (@CryptoMichNL) December 30, 2024
Donald Trump’s World Liberty Financial has selected Chainlink to offer oracle solutions. The organization also purchased LINK tokens worth almost $2 million today.
Chainlink continues to play a vital role in the crypto industry, providing oracles to major Decentralized Finance networks like AAVE (AAVE) and Compound (COMP). It has also become a key player in the Real World Asset tokenization sector through its Cross-Chain Interoperability Protocol.
Additionally, Chainlink recently launched the Cross-Chain Token Standard, a decentralized framework to enable streamlined asset transfers. It has already integrated popular tokens such as Shiba Inu and Floki into the network.
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In a report released on Monday, Chainlink revealed that its network had facilitated over $18.2 trillion in transactions since 2022. It has also executed 15.7 billion verified on-chain messages and forged new partnerships with firms like Vontobel and UBS.
Chainlink’s dominance in 2024 ↓ pic.twitter.com/EhMw0BKe91
— Chainlink (@chainlink) December 30, 2024
Chainlink price could go through volatility
Chainlink price chart | Source: crypto.news
The four-hour chart shows that the LINK price peaked at $31.045 earlier this month and has since been in a gradual downtrend. It has moved to the 50% Fibonacci Retracement level and fallen below the 50-period Exponential Moving Average.
Most notably, Chainlink price has formed a head and shoulders pattern, a common reversal signal. The current price is at the neckline of the H&S chart pattern. Historically, this formation often precedes further downside movement.
As a result, the coin may continue to decline, with sellers targeting the next key support at $18, the 61.8% retracement point. A move below this level could push LINK to the psychological support level at $15.
While Chainlink’s outlook for 2025 may remain bullish, its performance will largely depend on the overall trajectory of the crypto industry.
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