Chainlink price shows impressive bullish potential, aims for 37% rally

Chainlink price set a new weekly high, continuing its uptrend on January 4, 2022. Chainlink is the leading provider of open-source Oracle solutions, and it continues to partner with firms. 

Chainlink recovers from price drop displays bullish potential

Chainlink, provider of oracles, has recovered from the drop in price at the end of December 2021. The altcoin has posted over 27% gains over the past two weeks. Analysts believe that the altcoin has shown impressive bullish potential. 

@Hayess5178, a crypto analyst and trader, recently tweeted that he accumulated Chainlink tokens during the price drop. The analyst has predicted a continuation of the oracle provider token’s price rally. 

@Hayess5178 has set the next target for Chainlink price at $33. 

The pseudonymous analyst predicted that breaking past $24 and sustaining above that level would imply that the altcoin rally is likely to continue. 

Guy, a crypto analyst at the YouTube channel Coin Bureau, believes that Chainlink’s partnerships could fuel a bullish narrative for the altcoin’s price over 2022. 

The analyst considered Chainlink’s latest integrations, partnerships, initiatives and protocol updates before concluding that the token has bullish potential. 

As more enterprises join the Chainlink ecosystem in 2022, there could be a spike in the adoption and utility of the native token.

Chainlink price feeds are a key integration for several DeFi protocols. The rising adoption and scale of partnerships could fuel demand for Chainlink’s native token.