Chainlink Nears $30 Resistance: Can LINK Break Through?

2d ago•

bullish:

bearish:

Chainlink (LINK) has once again approached the critical $30 resistance zone, a level that has repeatedly capped its rallies in recent years. After briefly surpassing $26, LINK is currently trading around $24.65. Technical patterns suggest a potential continuation of this rally, with analysts pointing to a classic “cup and handle” formation that could drive momentum higher.

Chainlink Nears $30 Resistance: Can LINK Break Through? = The Bit Journal

The token’s price remains well above the 50-day EMA at $18.87, underlining strong market demand. Trend strength, measured by the Average Directional Index (ADX), stands at 35.57, reflecting a robust bullish environment. If LINK consolidates between $26 and $30, the handle of the formation may complete, paving the way for a breakout. On the downside, $20 remains a strong support level, previously a resistance zone but now serving as a solid floor.

The $30 Barrier: A Psychological and Technical Test

For investors, $30 represents more than just resistance; it is a psychological threshold that could define LINK’s long-term trajectory. A decisive close above this level could open the path toward $52, a potential new cycle high. Conversely, failure to breach $30 may lead to renewed consolidation before the next attempt.

On-Chain Activity Reaches Record Highs

Recent on-chain data highlights growing user engagement in the Chainlink ecosystem. According to Santiment data from August 19, 2025, more than 9,800 unique wallets processed transactions on August 17 — the highest daily level this year. The following day, over 9,600 new wallets were created, signaling a surge in retail and institutional interest.

This sharp increase in wallet activity often precedes heightened trading volumes and liquidity, key drivers of price discovery in digital assets.

Ecosystem Growth Supports Long-Term Value

Beyond price action, Chainlink’s product suite continues to expand. The launch of Chainlink Data Streams, which now supports traditional financial assets such as Apple (AAPL), Nvidia (NVDA), and QQQ ETFs, marks a strategic move into hybrid finance (HyFi). This broadens Chainlink’s utility beyond crypto-native assets, making it an essential infrastructure for real-time market data across asset classes.

Additionally, Chainlink Reserve, a recently introduced on-chain reserve mechanism, is designed to enhance long-term network stability. These innovations reinforce Chainlink’s role as a cornerstone in decentralized data infrastructure.

Investor Outlook

The convergence of bullish technicals, record-breaking on-chain activity, and product innovation suggests LINK could remain on an upward trajectory. The key focus remains on whether the $30 resistance will hold or finally give way, unlocking the next phase of growth.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a financial advisor before making investment decisions.