News View Non-AMP

LINK at $40? Here’s Why Chainlink Will Win Big in the Next Bitcoin Bull Run

Published by
Mustafa Mulla

Bitcoin has been setting new all-time highs, recently hitting $76,203, and a major factor driving this rally is Donald Trump’s win in the U.S. presidential race. This has sparked a wave of bullish sentiment across the cryptocurrency market. As Bitcoin continues to rise, this optimism is spreading to other cryptocurrencies, particularly Chainlink (LINK), which is showing signs of a potential breakout. Analysts believe LINK could soon reach $40, fueled by the growing investor confidence.

What’s driving the optimism for LINK? Let’s understand better below.

Crypto analyst ZAYK Charts points out that LINK’s weekly chart is forming a “falling wedge” pattern—a signal that often precedes upward movement. LINK’s immediate resistance lies at the upper boundary of this wedge, around $15. Analysts are closely monitoring this level, as breaking through it could lead to a sharp price increase.

If LINK successfully breaks above this resistance, analysts expect the price to surge toward $40 in the near future, with even more growth possible.

Chainlink (LINK) is showing signs of a potential breakout as buying pressure builds. On the four-hour chart, the Relative Strength Index (RSI) recently hit 71, indicating strong buying momentum. This increase suggests more traders are backing LINK’s upward trend.

The derivatives market also shows rising confidence in LINK. Open Interest for Chainlink recently spiked to $203 million, and Funding Rates have surged as well. These indicators suggest that traders are increasingly optimistic about LINK’s future and are betting on further price increases.

Chainlink is also seeing significant growth in network activity. According to blockchain analytics platform Santiment, Chainlink ranks as the leading Real World Asset (RWA) project by development activity. Over the past 30 days, development on the Chainlink network has surged by an impressive 14,000%.

Alongside this, the number of active addresses on the Chainlink blockchain has also grown. In just four days, daily active addresses increased from 1,930 to 2,750, showing that more users are engaging with the network.

With rising buying pressure, strong network growth, and increasing interest in the derivatives market, Chainlink appears poised for a continued rally. If these trends continue, LINK could soon break past key resistance levels and target new highs in the coming weeks.

Stay tuned to Coinpedia.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Russia’s Central Bank to Launch Crypto Exchange as Part of BRICS Digital Push

Russia is rolling out a government-backed cryptocurrency exchange—but not for everyday investors. Instead, the platform…

April 24, 2025

XRP Price Prediction for 2025: Can It Reach $50?

Crypto markets are heating up again, and XRP is finally showing signs of a major…

April 24, 2025

XRP ETF Update: Teucrium CEO Says XRP Has More Utility Than Bitcoin

XRP News Today, April 24th: XRP Price is back in the spotlight today, surging 4.46%…

April 24, 2025

Metaplanet Keeps Buying Bitcoin, Now Holds 5,000 BTC

Metaplanet has purchased an additional 145 BTC for around $13.6 million at an average price…

April 24, 2025

El Salvador Proposes Crypto Sandbox to SEC in Bold Cross-Border Move – Is Bitcoin In?

Something big might be happening between El Salvador and the United States in the crypto…

April 24, 2025

Want to Have Dinner with Trump? Here’s How to Qualify and Everything You Need to Know

It sounds unbelievable, but it’s real: holders of a Trump-themed meme coin now have the…

April 24, 2025