The Chainlink price has had a mixed performance since the turn of the new year, running up to $24 early on in 2025 before witnessing a severe pullback to below $20. However, the cryptocurrency appears to be recovering nicely, reflecting the improving market climate.
According to a popular crypto analyst on the social media platform X, the Chainlink price is readying for another leg up over the next few weeks. The LINK token has mostly struggled over the weekend, but this sluggishness has barely made a dent in the altcoin’s performance in the past week.
Can LINK Price Reach A New All-Time High In This Cycle?
In a Jan. 18 post on X, renowned crypto pundit Ali Martinez put forward an exciting projection for the price of Chainlink over the next few weeks. Martinez took to the social media platform to explain how the Chainlink price could grow by more than 100% in the current cycle.
This bullish prediction is based on the formation of a bullish flag on the Chainlink price chart on the four-hour timeframe. In technical analysis, the bull flag pattern is often considered a strong continuation pattern for upward price trends.
The bull flag pattern is characterized by a period of almost vertical upward price movement (the flagpole), which is then followed by a consolidation period (the flag itself). In some scenarios — as seen in the chart below, the flag could be a little tilted downward.
As highlighted by Martinez, the LINK price seems to be breaking out of the consolidation range of the bull flag. A successful close above the upper boundary of the flag could see the price of Chainlink move significantly to the upside.
The price target from the bull flag pattern is usually calculated by measuring the length of the initial flagpole and adding to the price at the breakout level. Using this method, the potential price target from this bullish setup sits around the $50 mark.
This would represent over a 100% surge for LINK from the current price point. Moreover, this potential rally could see the Chainlink token return to its all-time-high price of $52.7, which was forged in May 2021.
Chainlink Price At A Glance
After briefly reaching above the $25 level in the early hours of Saturday, January 18, Chainlink has now retraced to around $24. As of this writing, the LINK token is valued at $24.13, reflecting an almost 6% downturn in the past 24 hours. Nevertheless, the Chainlink price is up by about 20% in the last seven days, according to data from CoinGecko.
Featured image from iStock, chart from TradingView Source: NewsBTC