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Here’s when Chainlink (LINK) will reach $40, according to analyst

Author: Content Editor
Chainlink (LINK) is experiencing a bullish momentum, with analysts predicting a clear path towards $40 in the short term. Technical analysis firm TradingShot highlights the strength of LINK's current uptrend within a well-defined 'Channel Up' pattern. The formation of a Golden Cross on its daily chart, as well as a bullish crossover on the Moving Average Convergence Divergence (MACD) indicator on the weekly chart, further support the likelihood of LINK reaching $40. The article also mentions a longer-term price target of $53, derived from the 4.382 Fibonacci extension level. AI models predict that LINK could trade between $30 and $35 by the end of 2024. Chainlink's growth is attributed to rising institutional demand, expanding ecosystem adoption, and partnerships with industry players. With continued advancements in staking and protocol capabilities, Chainlink is solidifying its path towards higher adoption and a potential $50 billion market cap in 2025. LINK is currently trading at $29, with a seven-day gain of 26.50% and a month-over-month increase of 108%.

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