Chainlink (LINK) Eyes $30: Bullish Pattern Sparks Rally Speculation

Chainlink’s LINK token shows a textbook bullish pattern—traders are betting it could crack $30 soon. The oracle network’s real-world data dominance keeps fueling demand, even as skeptics mutter about ’overhyped middleware.’

Key levels to watch: A clean break above $20 could trigger FOMO buying, while rejection here might see a retest of $15 support. Either way, LINK’s volatility promises fireworks.

Fun fact: This would-be rally comes just as traditional finance pundits rediscover ’blockchain, not Bitcoin’ narratives—right on schedule for another cycle of selective amnesia.

TLDR

• Chainlink price is forming a descending broadening wedge pattern with potential for 40-60% rally to $25-26 range
• LINK currently trades around $15.13-$16.07 with key resistance at $19.50 and support at $16.00
• Technical indicators show bullish momentum with RSI above 50 and positive BBPower readings
• Development activity leads RWA sector with most GitHub contributions over past 30 days
• Breaking above $17.20 trendline could trigger move toward $22-30 price targets

Chainlink price is approaching a critical technical juncture that could determine its trajectory for the coming months. The oracle token currently trades NEAR $15.74, positioning itself for a potential breakout from a descending wedge pattern.

Market analysts have identified a descending broadening wedge formation on LINK’s daily chart. This pattern has defined the token’s structure since late 2024, creating a series of lower highs and lower lows.

The price now tests the upper boundary of this wedge near $16.50. This level previously acted as strong resistance for the token.

Analyst crypto Avi suggests a breakout could result in a 40-60% rally. This projection targets the $25-26 price range, aligning with historical resistance zones.

#Link Near of Breakout of Descending Broadening wedge Pattern on the Daily TF , Expecting 40% – 60% Bullsh Rally Incoming Days. 📈#linkusdt #Chainlink #Crypto pic.twitter.com/ndNGkLR9pX

— Crypto Avi (@crypto_tech_avi) May 22, 2025

The pattern shows convergence with higher lows in recent weeks. Trading volume has increased during this consolidation period.

A close above the wedge resistance WOULD be critical for confirming the breakout. Such a move could accelerate price movement through momentum trading and short liquidations.

Technical Indicators Signal Bullish Momentum

LINK’s weekly BBPower indicator turned positive at 0.92. This marks the first positive reading since mid-February, indicating buying pressure now exceeds selling.

The Relative Strength Index climbed to 51.63, crossing above the neutral 50 threshold. This MOVE confirms growing momentum as LINK exits its accumulation zone.

Recent price action shows steady movement toward the $19.53 resistance zone. This level represents a critical technical barrier for medium-term direction.

The current structure displays reduced volatility with gradual gains. This suggests consolidation before a potential breakout attempt.

Market participants monitor the $17.20 level as the next confirmation point. Breaking this trendline could set the stage for a move toward $19.50.

Development Activity Supports Network Growth

Chainlink leads Real World Asset development activity over the past 30 days. The project recorded more GitHub contributions than Avalanche, Stellar, IOTA, and Injective Protocol.

This development focus centers on Cross-Chain Interoperability Protocol and Proof of Reserve systems. These tools facilitate token transfers and blockchain asset integration.

The protocol’s services include Price Feeds, Proof of Reserve, and Verifiable Randomness. These applications serve decentralized finance, gaming, and tokenization sectors.

Frequent developer contributions indicate project health and long-term network value. This momentum keeps chainlink relevant for both crypto and enterprise systems.

LINK’s market capitalization approaches $10 billion with 24-hour trading volume at $324.9 million. These metrics indicate robust liquidity and heightened buyer engagement.

The token experienced a 2.77% decrease over 24 hours to $15.13. This minor retracement suggests active price discovery supported by market interest.

For most of May, LINK maintained a positive uptrend backed by consistent volume. This suggests accumulation by traders positioning for a possible breakout.

The weekly chart reflects a market transitioning from a multi-month downtrend. LINK previously reached a 2025 low near $10.07 before reclaiming higher levels.

If LINK closes above $19.53 this week, it would establish a higher high on the weekly chart. This could open the path to retest the $23-25 range.

Failure to break above resistance could result in a return to support near $14.50. The $16.00-$16.20 range serves as key near-term support for maintaining bullish structure.

As long as LINK holds above $14.80, technical indicators suggest the current uptrend could persist with targets at $22.00 and $30.00.