Chainlink LINK Price Breaks Key Resistance Eyes $30 Rally

Chainlink’s native token, LINK, is drawing renewed attention from analysts and investors amid signs of potential price momentum. Crypto analyst Michaël van de Poppe, known as @CryptoMichNL on X, has highlighted the token’s undervaluation and identified key price levels that could catalyze a significant upward move. Van de Poppe has specifically targeted a price of $30 or higher for LINK, suggesting that dips in the $18–$20 range present favorable entry opportunities [1].

According to on-chain data, there has been a 4.2% increase in wallets holding between 100,000 and 1 million LINK during August, indicating growing accumulation by large holders. Additionally, over $1 million worth of LINK has been deposited into the network’s on-chain reserve via the Payment Abstraction system, further strengthening the token’s value proposition and signaling long-term stability [2].

Technically, LINK has already broken through key resistance levels near $15–$16 and $19, with its current price at around $21.46 placing it above critical danger zones. Van de Poppe notes that the $18–$20 range serves as a strong support area that has historically caught bearish movements. A pullback into this range could offer a favorable opportunity for accumulation before the next upward leg, potentially pushing the price toward $30 and beyond [3].

The analyst also identifies a breakout pattern above the $20 level, suggesting a potential bull market rally. The RSI indicator, already in the higher range, indicates strong momentum and hints at a possible short-term correction before the next significant move. This pattern is consistent with past uptrends, where retests of key levels have led to substantial follow-through gains [3].

Chainlink’s recent developments in decentralized data services have bolstered investor sentiment, reinforcing the token’s fundamental strength. The project is also expanding its use cases beyond DeFi, integrating cross-chain and real-world data solutions that enhance its utility and appeal [4]. These advancements align with Van de Poppe’s technical outlook, which suggests that LINK is in the early stages of a bull market.

While some traders remain cautious, the overall trend points toward growing interest in utility-driven projects like Chainlink. As the crypto market continues to mature, tokens offering real-world applications and institutional-grade infrastructure are gaining traction among both retail and institutional investors [4].

Sources:

[1] https://x.com/blockchainrptr/status/195504180****285818

[2] https://blockchainreporter.net/link-price-primed-for-breakout-michael-van-de-poppe-targets-30/

[3] https://blockchain.news/flashnews/chainlink-link-buy-the-dip-setup-cryptomichnl-targets-30-after-updates-eyes-18-20-entry

[4] https://cryptonews.net/news/ethereum/31417791/