Chainlink Price Prediction and Analysis in June 2020

We will be taking into account historical price trends, developments, and market opinions for LINK so that we can create a Chainlink price prediction for June 2020.

Chainlink Overview

Chainlink is an oracle network that intends to link smart contracts with real-world data. LINK, the cryptocurrency of the network, is used as payment for node operators and to effectuate transactions.

LINK is currently ranked in 14th position based on a market cap of $1,592,040,368, with a 24-hours trading volume of $471,331,373 worth of LINK. There are 350.000.000 LINK coins in circulation out of a total supply of 1.000.000.000 LINK. The price of LINK is $4,55, with an increase of 3.45% in the last 24 hours.

Chainlink Price Prediction: Analysis

Chainlink is considered one of the best performing altcoins in the last 12 months, as it increased nearly 4x from its $1 price of last May.

But throughout April, Chainlink recovered from its fall to $1,97 on March 12^th, starting May at a price of $3,72.

The coin has maintained a sideways movement in the past few weeks, failing to get back to a bullish momentum after it faced multiple rejections at the $4.2 resistance level. The highest value LINK reached this month was $4,15, on May 21^st.

The price is now locked in a tight range, trading between the upper limit at the $3.96 mark and the lower of $3.76 since May 17^th.

The price trend seems rather indecisive at this point, as bulls and bears have been taking turns to keep LINK in this horizontal price movement.

The resistance, pivot, and support levels calculated by WalletInvetsor are:

• Resistance Level (R3): 4.287
• Resistance Level (R2): 4.161
• Resistance Level (R1): 4.093
• Pivot Point: 3.967
• Support Level (S1): 3.899
• Support Level (S2): 3.773
• Support Level (S3): 3.705

Developments

Chainlink has had a very busy schedule this May, with new partnerships and integrations.

On May 19^th, the Kadena project, which is spearheaded by former JPMorgan blockchain leads, has struck a partnership with Chainlink to use its existing set of off- and on-chain oracles for pricing Kadena-based assets.

On May 21^st, the Lien protocol system for crypto products announced that it will be integrating with Chainlink’s ETH/USD price feed to settle the Stable and Leveraged bond token. Tezos is another blockchain that plans on using Chainlink’s decentralized pricing oracles for sourcing real-time data for community projects on the Tezos network.

On May 26^th, Digitex Futures crypto derivatives trading exchange made public that they will be integrating Chainlink’s (LINK) decentralized price reference contracts to generate consistent and accurate price data without fluctuation.

On May 29^th, the Force Protocol, an important player in decentralized finance, has announced that it will integrate Chainlink to provide reliable data for token prices.

Chainlink Price Prediction: Market Opinion for June 2020

Since several sites have made their own Chainlink price prediction, and as usual, we will be including some of them to better convey the general market sentiment for LINK.

TradingBeasts

TradingBeasts predicted that LINK will begin in June at a price of $3.38537. The site expects the coin to have a maximum price of $4.26410, a minimum price of $2.89959, and a closing price of $3.41128 for the month. The change for June was calculated at -11.62%.

Digitalcoinprice

Digitalcoinprice’s Chainlink price prediction foresees a price of $3.95 for LINK in June, with a decrease of -1.3%.

Coinpredictor

Coinpredictor forecasted that the price of LINK will reach $1.71, with a decrease of -21.1%, in the first week of June, and towards the end of the month, the site projected an increase of +17.7%, placing the coin near $2.55.

Bitverzo

Bitverzo’s Chainlink price prediction extends for all of the days in June, along with their average, minimum, and maximum values.

Cryptoground

Cryptoground projected that Chainlink will hit a price of $1.7095, with a decrease of -57.14 in the first week of June, and by the end of the month, LINK is estimated to reach a price of $1.8127, with a drop of -54.56%.

Cryptorating

Cryptorating forecasted that LINK will reach a price of $4.34, with a rise of 8.23% in the first week of June, and by the end of the month, the coin is estimated to reach a price of $5.99, with an increase of 49.38%.

Gov.capital

Gov.capital forecasted that Chainlink will start June with an average price of $3.919, a maximum expected price of $4.50685, and a minimum price of $3.33115. The site also listed daily predictions for the rest of the days in June.

WalletInvestor

WalletInvestor listed daily predictions for the first 8 days of June, also including the minimum and maximum values of the coin for each individual day.

Chainlink Price Prediction: Verdict

With this, we conclude our Chainlink price prediction. From what we can see on other cryptocurrency prediction sites, LINK will mostly remain the same in June, with a possible decrease.

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