Key takeaways
- LINK is the top performer among the 20 largest cryptocurrencies by market capitalization, rising nearly 2%.
- Chainlink’s native token is trading above $25 per coin.
LINK climbs nearly 2% while broader market lags
The crypto market turned sharply bearish over the weekend, wiping out nearly $200 billion in market value. Bitcoin fell toward the $115k zone, and Ether, after failing to record a new all-time high last week, is trading above $4,200.
Against this backdrop, LINK—the native token of the Chainlink network—stood out as the only top-20 cryptocurrency trading in positive territory. LINK gained more than 1% over the past 24 hours and is now changing hands above $25.
The token’s recent strength follows developments such as the launch of the Chainlink Reserve and a strategic collaboration with ICE, the company behind the New York Stock Exchange. Market analysts consider LINK to be undervalued and see potential for further upside in the near term. Having recently overtaken Hypiliquid’s $HYPE, LINK now ranks as the 11th-largest cryptocurrency by market capitalization.
LINK eyes $30 as bullish momentum builds
Technical indicators on the LINK/USD 4-hour chart reflect a bullish bias driven by the current rally. The move has been somewhat uneven, however, which suggests the possibility of a short liquidity sweep to the downside before the uptrend resumes.
Momentum indicators support the bullish case: MACD lines sit well inside positive territory, and the relative strength index (RSI) around 59 indicates there is room before LINK reaches overbought levels, leaving capacity for additional gains.
If buying interest persists, LINK could push past the near-term resistance at $30 in the coming days. A sustained rally could extend toward roughly $35, which would mark its strongest level in about four years. That said, $30 may also attract profit-taking from longer-term holders.
Conversely, if LINK mirrors a broader market pullback, a correction could push the token down toward the trendline support and the $21 level within the next several hours.