Chainlink’s LINK Price Forecast for May 10: AI Weighs In
AI throws its hat in the crypto prediction ring—this time targeting Chainlink’s native token. Will LINK defy gravity or get dragged down by another ’institutional adoption’ narrative that goes nowhere?
Machine learning models crunch historical data, trading volumes, and market sentiment to spit out a number. Spoiler: it’s not the moon some bagholders are hoping for.
Key factors in play: Bitcoin’s dominance, DeFi TVL fluctuations, and the eternal question—when will oracles actually become sexy?
Prediction in hand, traders now face the real challenge: deciding whether to trust silicon over Wall Street’s ’gut feeling’ (which usually means flipping a coin).
Source: CoinGecko
Cryptocurrencies Recover Amid Big Institutional Buys
The cryptocurrency market faced quite a dip in early April. Chainlink’s (LINK) price fell to a low of $10.89 on Apr. 9. Bitcoin briefly fell to below $75,000. The market has made quite a recovery since its April lows.
The recent market resurgence was likely fueled by institutional investors. BlackRock alone has purchased over $4.5 billion worth of Bitcoin (BTC) for its spot BTC ETF since Apr. 21. Other financial institutions have also filled their coffers. LINK and other assets may have benefited from BTC’s rally.
Other bullish developments may have also aided LINK and other cryptocurrencies in their recovery. The appointment of pro-Bitcoin candidate Paul Atkins as the SEC head may have boosted confidence.
Chainlink’s Price For May 10
According to CoinCodex, LINK’s price may rise to $14.17 on May 10. The asset’s price will rally by 1.72% if it hits the $14.17 target. CoinCodex does not anticipate LINK’s price to hold at $14. The platform predicts the asset will face a steep correction to $7.88 on May 24. LINK’s price will dip by 43.43% if it dips to $7.88.
There is also a possibility that LINK will not face a correction as predicted. There is a chance that the Federal Reserve will cut interest rates after its next meeting. The move could trigger a market-wide rally for the crypto sector.
