Chainlink’s native token, LINK, has been drawing significant attention recently as it shows signs of a bullish price breakout. After starting February 2025 within a descending parallel channel on the four-hour chart, LINK has broken free from its downtrend, signaling the potential for further upward movement.
Currently, LINK is holding strong support at $15.15, with analysts predicting it could surpass the $20 threshold in the near future. The token’s recent surge has allowed it to break above the 200-day Exponential Moving Average (EMA), setting the stage for a potential price target of $19.30. This level, with multiple closes near this mark, is expected to play a crucial role in future price action.
Traders and investors are particularly eyeing the $20 mark, as it represents a key psychological level that could fuel further gains.
In addition to price movement, on-chain data suggests a positive outlook for LINK. According to analytics firm Santiment, LINK’s social dominance has reached its highest level in weeks, indicating growing interest and potential price appreciation. Furthermore, development activity surrounding LINK has surged since March 2025, a sign that its ecosystem is expanding, which typically correlates with upward market momentum.
Additionally, a decrease in LINK’s supply on exchanges points to increased accumulation by whales and long-term investors, further supporting the bullish thesis. With these factors in play, the outlook for LINK appears to be optimistic, and the bulls seem to be in control for the foreseeable future.
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