Chainlink (LINK) Breaks $21 Barrier—Is $26 the Next Stop in This Crypto Rally?

Chainlink just punched through $21—defying skeptics and setting the stage for a potential run at $26. Here's why traders are suddenly paying attention.

LINK's surge comes as the broader crypto market shakes off its post-halving lethargy. No fancy narratives here—just pure price action that's making traditional finance guys clutch their spreadsheets.

The oracle network's token hasn't seen these levels since... well, since back when your 'stablecoin yield farm' actually yielded something. Technical indicators suggest room to run, but remember: in crypto, 'resistance levels' are just suggestions until they're not.

Will LINK hit $26? That depends on whether Bitcoin can stop mood-swinging long enough for altcoins to breathe. Either way, someone's getting liquidated—might as well grab popcorn.

Chainlink has grabbed the market’s attention by making it to the top gainers list after surging 13.83% in the last 24 hours. This, while maintaining a 32.25% gain over the past week. LINK’s rally has been fueled by both strong technical signals and on-chain catalysts. Central to this bullish momentum is the launch of Chainlink’s new reserve mechanism. This was alongside significant whale and institutional inflows that could redefine its mid-term trajectory.

Why Is LINK’s Price Up Today?

The chainlink Reserve, launched on August 7th, has already locked over $1 million worth of protocol revenue into LINK. This mechanism creates a deflationary loop that holds the potential to sustain price strength over time.

On the other hand, whale wallets holding 100k–1M LINK expanded their balances by 4.2% in early August, adding 4.55 million LINK worth ~$97 million. Meanwhile, derivatives open interest ROSE 27% and trading volume spiked 271% to $2.7 billion, signaling strong positioning without excessive leverage risks.

Chainlink Price Analysis:

Chainlink price is now at $21.41, with a $14.52 billion market cap and $1.33 billion in daily trading volume. LINK’s breakout above the $21 psychological barrier marks a confirmed shift in market structure. After hitting a daily high of $21.24 and a low of $18.78, the asset now sits above multiple strong support levels. 

LINK’sprice action has decisively cleared the 200-day EMA at $17.02 and broken the long-standing descending resistance at $18.40. The RSI at 65.56 shows healthy momentum without slipping into overbought territory, while MACD confirms a bullish crossover.

That being said, the immediate upside targets are $21.89 and $23.99, which is the June high. A sustained push could open the door to the $26.20 resistance zone. Contrarily, the LINK price could plummet to the lows of $19.51, followed by $17.64. That being said, deeper correction could take the price to $15.83.

FAQs

The launch of the Chainlink Reserve, which locks protocol revenue into LINK, combined with whale buying and a major technical breakout above key resistance, has fueled the price surge.

While the supports are at $19.51, $17.64, $15.83, resistances are at $21.89, $23.99, and $26.20

The price of 1 LINK token at the time of press is $21.41.