Chainlink Price Prediction for March 28

Over the past 24 hours, the price of Chainlink (LINK) has been facing a strong selling pressure as it dropped below the crucial $15 mark. Sellers have taken control, aiming for a hold below immediate Fib levels. The fear/greed index has surged, now showing a fear sentiment at level 33. Meanwhile, Chainlink’s trading volume has surged by 7.5% in the last 24 hours, reaching $396 million.

Looking at the longer trend, LINK’s price has been declining since mid-December, dropping from a high of $31 to about $15 on 3 February. In recent weeks, LINK price has been facing minor buying volatility as it aims for a hold above $15. In the last 24 hours, its market capitalization has dropped by 8.15%, hitting $9.45 billion.

LINK Faces Intense Selloff 

The price of LINK is struggling to meet buyers’ demand. As a result, the price failed to maintain its momentum above $15 and dropped heavily. In the last 24 hours, Chainlink has seen increased selling activity. 

According to Coinglass, about $1.6 million in LINK trades occurred, with long liquidations accounting for $1.4 million of this volume. On the other hand, sellers liquidated around $235K worth of positions.

Amidst this selling momentum, interest in Chainlink trading has dropped. Open interest, which tracks the total number of outstanding trading contracts, has declined to $520 million, reflecting a 7.8 % drop in the last 24 hours. However, the funding rate remains positive at 0.0034%, suggesting a potential for a bullish rebound.

Chainlink Price Prediction: Technical Analysis

Chainlink (LINK) recently surpassed the critical resistance level of $15, triggered by heightened buying interest. However, buyers failed to hold the momentum above $15, resulting in a severe drop in prices. Currently, LINK price trades at $14.37, declining over 8.4% in the last 24 hours. 

Sellers are currently aiming to intensify the pressure, keeping the price below 23.6% Fib level. Additionally, the Relative Strength Index (RSI) is hovering within the selling region at level 35, which could indicate further bearish pressure ahead.

If LINK can uphold its bullish momentum above the ascending support line, it may challenge the next major resistance level at $18.12, with sustained buyer support possibly driving the price as high as $22.

Conversely, a consolidation below the trend line might increase the chances of significant declines, with LINK potentially revisiting its rising support line at $11.7. A further decline from this point might drive the price down to a strong bearish region.

LINK Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, LINK price might continue to decline. If the price holds below $15, we might see $11.7. On the upside, $18.12 is the range.   

Long-term: According to Coincodex’s current Chainlink price prediction, the price of Chainlink is expected to increase by 20.21%, reaching $18.29 by April 27, 2025. Coincodex’s technical indicators suggest that the current market sentiment for Chainlink is bearish, while the Fear & Greed Index stands at 44, indicating fear among investors. Over the past 30 days, Chainlink has experienced 16 out of 30 (53%) green days and exhibited price volatility of 6.90%. Based on Coincodex’s analysis, it is currently considered a bad time to buy Chainlink.

Investment Risks for Chainlink

Investing in LINK price can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.