Is Chainlink (LINK) poised for a comeback? Despite recent volatility, analysts maintain a bullish outlook, forecasting Chainlink to hit $35. This optimism comes even after Chainlink has faced a stark 15% price correction, falling below $25. But is this just wishful thinking, or is there real potential for LINK to show strength?

Recent market activity has been turbulent. Chainlink (LINK) price is revisiting a critical level after a sharp 15.9% weekly correction. A recent setback included a Chainlink oracle update glitch on May 30 triggered $532k in liquidations, dropping LINK to $14.33 (-9.58% in 24h). This has led to bearish sentiment that dominates short-term discussions.

However, not everyone is discouraged. Based on technical analysis, analysts still expect LINK to reach a $35 price in January. Based on Ali Martinez’s analysis and the symmetrical triangle pattern, Chainlink price could see a 35% rally if it successfully breaks resistance. This projection highlights a potential upside based on established trading patterns. Some analysts go even further, projecting LINK to rebound to $35 in January 2025 and potentially reach $75 by mid-2025. Others see a more conservative, near-term rally, with analysts projecting that LINK could rally 67.1% by April 2025 to hit $16.85.

While the immediate future may seem uncertain, many believe that Chainlink’s LINK token, a project with proven utility, remains a standout performer with significant long-term growth potential. Keep an eye on key resistance levels and overall market sentiment to gauge the likelihood of Chainlink reaching the forecasted $35 target.