Chainlink on the Move: Here is Why This Could Be the Start of a Major Rally

Chainlink Gains Momentum: After a 30% surge in the past month, $LINK is now testing the $17.50 resistance level, with analysts eyeing a potential breakout toward $30 if the price holds above its 20-week and 200-week EMAs.
Positive Developments Drive Sentiment: Recent partnerships, including JPMorgan’s blockchain transaction using Chainlink and Ondo, and its role as the official BNB Chain Kickstart Program Service Provider, are boosting market confidence.
Outlook Remains Bullish: With growing institutional adoption and expanding cross-chain integrations, Chainlink is positioned for further growth as momentum continues to build.

Chainlink

Chainlink ($LINK), launched in 2017, is a leading blockchain platform that connects smart contracts with external data through its decentralized oracle network, enhancing their functionality across multiple platforms.

Price Action

At the moment, $LINK is trading around $16.90 with a market cap of roughly $11.1 billion. Notably, the past year has been relatively steady for the token, though late 2024 brought a huge rally as $LINK surged over 300 percent before correcting alongside the broader market. That pullback dragged the price down to its yearly lows, but momentum has quietly been building again. Over the past month, $LINK has gained more than 30 percent, signaling a potential recovery in progress.

Credit: CoinGecko

Price Predictions

Right now, $LINK is testing resistance at $17.50, a level it’s challenged twice in recent days without breaking through. Looking ahead, analysts are watching closely because $LINK has reclaimed both its 20-week and 200-week EMAs, an encouraging technical signal pointing to a transition from accumulation to expansion. If the price holds above these levels and breaks resistance, the next major target sits around $30.

Market Sentiment and Developments

Sentiment around Chainlink has been improving thanks to a wave of positive developments. Notably, JPMorgan completed its first public blockchain transaction using Chainlink and Ondo to move tokenized treasuries beyond private networks.

JP Morgan, ondo finance, and chainlink partnership

Chainlink was also named the official BNB Chain Kickstart Program Service Provider, a notable recognition of its growing influence. Additionally, Dolomite, a next-gen money market and margin trading protocol, has integrated Chainlink CCIP to power secure cross-chain functionality.