Chainlink LINK Nears $30 Resistance Amid Bullish Technicals and Surging On-Chain Activity

Chainlink’s native token, LINK, has once again drawn attention as it inches closer to the $30 resistance level, a key threshold that has historically capped its upward movement. As of the latest data, the price of LINK has traded around $24.65 after briefly surpassing $26, positioning it near a critical juncture in its technical chart pattern. Analysts note the formation of a classic “cup and handle” pattern, which, if completed, could signal a continuation of the bullish trend [1]. The price remains significantly above the 50-day EMA at $18.87, suggesting continued investor confidence and strong market demand [1].

On-chain activity has also surged, with Santiment reporting over 9,800 unique wallets processing transactions on a single day in late August 2025—the highest level observed this year. Additionally, more than 9,600 new wallets were created the following day, indicating heightened engagement from both retail and institutional participants [1]. This surge in wallet creation and transaction volume is often a precursor to increased liquidity and trading activity, which can further drive price appreciation.

Technically, the Average Directional Index (ADX) currently stands at 35.57, reflecting a strong bullish environment [1]. A consolidation phase between $26 and $30 could allow the handle of the “cup and handle” pattern to complete, potentially setting the stage for a breakout. However, a failure to break above $30 could lead to renewed consolidation before the next attempt [1]. The immediate support level is currently at $20, which has previously acted as a price floor in prior corrections.

In addition to strong technical indicators, Chainlink’s ecosystem continues to evolve. Recent developments, such as the launch of Chainlink Data Streams, now support traditional financial assets including Apple (AAPL), Nvidia (NVDA), and QQQ ETFs. This marks a strategic expansion into hybrid finance (HyFi), broadening Chainlink’s utility beyond the crypto-native market [1]. The introduction of Chainlink Reserve, an on-chain reserve mechanism, is also expected to enhance the long-term stability of the network.

Market observers suggest that a decisive close above $30 could trigger a wave of buying pressure and open the door for a move toward $52, a potential new cycle high. Conversely, failure to breach the $30 level could result in a temporary pullback or consolidation phase before the next attempt [1]. Analysts have also pointed to whale accumulation patterns as a bullish sign, with large holders seemingly positioned to support further price gains [2].

While the recent performance of LINK has outpaced many of its peers, including a 7-month high on wallet activity, analysts caution that the $26–$27 range remains a critical area to watch. A sustained close above $27 could validate the next phase of the rally, with $30 as the next major target [3]. The current level of volatility, while supporting upward momentum, also introduces the risk of short-term turbulence.

Looking ahead, some analysts project that if the current trend continues, the price could reach $50–$55 by late 2025 [4]. However, such projections depend on the market's ability to maintain its bullish momentum and successfully navigate key resistance levels without reverting into a period of consolidation.

Source:

[1] Chainlink Nears $30 Resistance: Can LINK Break Through? (https://thebitjournal.com/chainlink-nears-30-resistance-can-link-break-through/)

[2] Chainlink Surges to 7-Month High on Wallet Growth: Is $30 ... (https://www.mitrade.com/insights/news/live-news/article-3-1052997-20250820)

[3] Is Chainlink (LINK) Price on Track to Hit $30 This Week? (https://coinpedia.org/price-analysis/is-chainlink-link-price-on-track-to-hit-30-this-week/)

[4] Can Chainlink Hit $30? Whale Activities Suggest Building ... (https://thecryptobasic.com/2025/08/19/can-chainlink-hit-30-whale-activities-suggest-building-momentum/)