Chainlink Surges 130% Targeting $30.79 Amid Bullish Forecasts

Chainlink (LINK) has recently broken out of a long-term consolidation pattern, sparking bullish forecasts from multiple analysts. The decentralized oracle network has surged past a critical descending resistance trendline, with technical projections targeting a 130% price move toward $30.79 in the coming weeks. This breakout has drawn increased attention from traders, who are citing LINK’s recovery pattern and higher lows as evidence of renewed bullish strength.

Just three days prior, on July 11, LINK was priced at $15.38, with analysts predicting a 217% rally toward $48.20 if the breakout held. The price structure shows a clean break from the multi-month downtrend, further supporting the bullish sentiment. The latest data from CoinGlass shows a sharp increase in LINK futures open interest, now nearing $1 billion. This surge in open interest is often a precursor to increased volatility and has historically aligned with major LINK rallies near the $50–$60 range.

Traders appear to be positioning for another potential price breakout, supported by higher demand and speculative exposure. The data suggests strong investor confidence in LINK’s short-term and mid-term price performance. Additionally, Chainlink has joined forces with the Global Legal Entity Identifier Foundation (GLEIF) and Swift to launch the vLEI Hackathon. This event aims to drive forward the adoption of compliant digital assets by integrating verifiable Legal Entity Identifiers (vLEIs) onchain, supporting blockchain’s evolving role in regulatory-compliant financial ecosystems.

As trillions in traditional assets move toward tokenization, Chainlink’s role in digital identity infrastructure is expanding. The hackathon’s finalist will present their solutions at SmartCon in New York City on November 3, 2025. Participants can register through GLEIF’s website or the SmartCon portal. The combination of technical breakout, surging futures interest, and enterprise-level partnerships positions LINK as a closely watched asset. Analysts continue to monitor the trendline support and volume strength as LINK eyes the $30–$50 range.

According to the analyst's forecast, the anticipation of a rally toward $50 is not without precedent. Chainlink's price movements have historically been influenced by its utility in various decentralized finance (DeFi) applications. As more projects integrate Chainlink's oracles, the demand for its services is expected to increase, potentially driving the price higher. Analysts have noted that the network's robust security measures and partnerships with major enterprises have enhanced its credibility, making it a preferred choice for developers and investors alike.

The technical analysis supporting this prediction is based on the observation that Chainlink's price has been consolidating above key support levels. This consolidation phase is often seen as a precursor to a significant breakout, as it allows the price to build momentum before making a decisive move. The staking data further supports this view, as an increasing number of users are locking their tokens to participate in the network's governance and security, indicating a strong commitment to its long-term success.

However, it is important to note that the prediction of a rally toward $50 is based on analyst forecasts and should be considered speculative. The actual price movement will depend on various factors, including market sentiment, regulatory developments, and the overall performance of the cryptocurrency market. Investors should exercise caution and conduct their own research before making any investment decisions.