Will LINK Hit $40 This Week?

Chainlink (LINK) outperforms the top 10 crypto projects by market cap. While the top 10 projects are going red in the daily charts, LINK is green across the board. The asset has rallied by 72.% % in the daily charts, 42% in the weekly charts, 49.1% in the 14-day charts, and 99.4% over the previous month. LINK’s price has also risen by 58% since December 2023.

Also Read: Cardano ADA: Whales Buying in as Analysts Predict 165% Surge

Why Is Chainlink Rallying?

LINK’s latest rally could be due to investors moving their funds into altcoins. Several altcoins hit new all-time highs recently. BNB, Solana (SOL), and TRON (TRX) hit new peaks over the last few weeks. Bitcoin (BTC) seems to be stagnating below $100,000. Investors may be moving their funds to other crypto assets to book profits.

According to Santiment, there is a very low retail frenzy around LINK’s latest rally. This development could mean that the rally will sustain itself.

The project also has plans to expand into the traditional finance (TradeFi) realm. Chainlink CEO Sergey Nazarov stated, “I see this long list of initial capital markets users and early adopters of multiple Chainlink services as just the beginning.“

Also Read: Ripple (XRP) May Be Bound for $4 in 2025, But When?

Will The Asset Hit $40 This Week?

According to CoinCodex, Chainlink (LINK) will continue to rally over the next few months. Despite the bullish outlook, the platform does not anticipate the asset to breach the $40 mark this year. According to CoinCodex analysts, LINK will hit $41.55 on Jan. 17, 2025. The platform further anticipates the asset to hit a new all-time high of $63.08 on Feb. 21, 2025. Hitting $63.08 from current price levels will entail a rally of about 136.52%.

Also Read: VeChain: 200% Rally Has VET Eyeing Yearly High in December

If Bitcoin (BTC) reclaims its all-time high, LINK’s price could breach the $40 mark much sooner than anticipated.