Key Points
- LINK is the best performer among the top 20 cryptocurrencies by market capitalization, rising by nearly 2%.
- Chainlink’s native token is now trading above $25 per coin.
LINK rises almost 2% while broader market underperforms
The cryptocurrency market turned sharply bearish over the weekend, losing roughly $200 billion in total market value during that period. Bitcoin slid into the $115k zone while Ether trades above $4,200 after failing to reach a new all-time high last week.
Against this backdrop, LINK—the native token of the Chainlink network—stands out as the only top-20 crypto showing positive performance. LINK has climbed more than 1% in the past 24 hours and is trading above $25 per token.
The recent rally follows developments such as the launch of the Chainlink Reserve and a partnership with ICE, the company behind the New York Stock Exchange. Market observers believe LINK may be undervalued and could move higher in the short term. LINK currently ranks as the 11th-largest cryptocurrency by market cap, after overtaking HYPE (Hypiliquid) earlier this month.
LINK targets $30 as bullish momentum continues
The 4-hour chart for LINK/USD looks bullish amid the ongoing rally. Price action has been choppy, however, which suggests LINK could sweep lower liquidity before resuming its upward move.
MACD lines sit in positive territory, signaling bullish momentum, while the 59 RSI indicates the token is not yet in overbought territory, leaving room for further gains.
If buying pressure holds, LINK could break the first major resistance near $30 in the coming days. A sustained rally might push LINK toward roughly $35, a level not seen in about four years. That said, the $30 area could attract profit-taking from long-term holders.
Conversely, if LINK follows a broader market correction, it could retreat to the TLQ support area around $21 within the next few sessions.