Chainlink’s native token, LINK, is drawing significant attention as it shows a bullish price movement. Since February 2025, LINK has been trading within a descending parallel channel on the four-hour chart. However, the token has recently managed to maintain support around $15.15, positioning itself for a potential push toward the $20 mark in the coming days.
The latest price action indicates that LINK has successfully broken out of the descending channel, a pattern that began in early February 2025. This breakout has propelled LINK above the 200 EMA, with the token now targeting $19.30. A sustained hold at this level would make it a crucial price point, setting the stage for further upward momentum. The $20 mark is seen as a psychological milestone for traders and investors, marking a key target for future growth.
In addition to the price action, on-chain metrics are supporting a bullish outlook. According to data from on-chain analytics firm Santiment, LINK’s social dominance has recently surged, suggesting growing attention and interest from the market. Furthermore, LINK’s development activity has reached its peak since March 2025, indicating heightened project activity, which is often a positive sign for future price performance.
Additionally, a decrease in LINK’s supply on exchanges suggests that whales and long-term investors may be accumulating more tokens, which further strengthens the bullish sentiment. With these positive on-chain indicators, it appears that the bulls are in control, potentially driving LINK toward its $20 target in the near future.
Related topics:
XRP Surpasses Tether, Becomes the Third Largest Cryptocurrency by Market Cap
Justin Sun Rejects Profits from Memecoins on Tron Blockchain
