Chainlink Soars to $24 – First Time Since February – Analysts Eye $29 Next

Chainlink just smashed through a key resistance level, hitting $24 for the first time in six months. Traders are piling in as the oracle giant shows bullish momentum.

Why the surge? Institutional adoption of Chainlink's decentralized data feeds keeps growing—even if Wall Street still doesn't quite get blockchain.

Analysts now target $29, citing strong on-chain activity and a recovering altcoin market. Short sellers got burned—again.

Remember when 'experts' called oracles boring? Tell that to LINK holders banking 30% gains this month alone.

Next stop: ATH territory. Unless, of course, the Fed ruins everything (again).

6 month high for Chainlink6-month high for Chainlink As of this press, chainlink trades at $24.28, an impressive 13% surge in the past 24 hours. LINK has been on a bullish journey this past week, recording a 50.8% uptick.  Chainlink’s Exchange Balances Decline by Nearly 10% Alongside the price rise, LINK’s exchange supply dropped significantly. Over the past eight weeks, since June 17, the amount of LINK held on centralized exchanges fell by 20.69 million tokens, representing a 9.8% decrease. Exchange balances moved from approximately 211 million LINK in mid-June to the current level of 191 million, signifying a reduced selling pressure and possibly a more bullish move.  Notably, from mid-May to early July, LINK traded in a relatively narrow range of $12.51 and $15.72, with occasional volatility and moderate whale transaction activity. In mid-July, prices began trending higher, breaking above $18.93 in late July. The upward momentum accelerated to above $20.53, coinciding with the spike in whale transactions and reduced exchange balances.  Experts Predict Chainlink to Reach $29 Meanwhile, crypto analyst Ali Martinez has identified $29 and $46 as the next major price targets for Chainlink, citing a bullish breakout above the $20.12 Fibonacci resistance level. His latest chart shows LINK's first upside objective aligning with the 1.00 Fibonacci extension at $29.12.

Ali Martinez predicts Links priceAli Martinez predicts the Link's price The second target is near the 1.272 extension at $46, which also coincides with the upper boundary of a long-term ascending price channel. Martinez’s outlook suggests that as long as LINK holds above $20.12, the path remains open for a continued rally towards new highs. Interestingly, analyst trader Rocko projects a similar move. A chart shared by the analyst shows Chainlink breaking out of multiple downtrend structures and reclaiming key support at $19, with price now pressing into what he calls the “last resistance before new all-time highs.” 

Chain LINK to $30Chain Link to $30 Rocko projects a next target of $30 if it maintains key resistance above $19, coinciding with an earlier prediction. Notably, Chainlink's all-time high stands at $52.88 from May 2021. This high was followed by a plunge to a low below $5, but LINK has since recovered from this floor to the current price.

LINK drop to below 5LINK dropped to below 5