Chainlink LINK Eyes $30 Surge as Supply Squeeze Intensifies

Chainlink LINK News - Chainlink's LINK token is positioned for a potential rally toward $30, driven by a significant supply squeeze and technical breakout patterns. Exchange reserves have dropped to their lowest levels since 2022, indicating rapidly diminishing available supply. Analyst Degen Sing attributes this trend to increasing adoption of Chainlink's Cross-Chain Interoperability Protocol (CCIP) and the staking v0.2 upgrade, which is systematically removing tokens from circulation. Technical analyst Ali notes LINK is forming a 12-hour symmetrical triangle pattern, with a decisive break above $25 potentially triggering targets at $26.17, $27.84, and $30.13. The token currently trades NEAR $23.6, with daily trading volume exceeding $1 billion, reflecting substantial market interest. While a short-term pullback to the $23.3–24 range remains possible, the overarching narrative centers on shrinking supply meeting escalating demand. Institutional adoption continues to accelerate, with CCIP gaining traction among banks, real-world asset platforms, and gaming projects. This fundamental growth, combined with constrained supply dynamics, creates a highly bullish setup for LINK's price trajectory.