Chainlink Eyes Move Toward $20 After SEC Approval Signals Bullish Trend: What’s Next for LINK Price?

Chainlink has started this year on a bullish note as the SEC finally approved the Bitwise Chainlink ETF, allowing it to enter US equity markets. As a result, whales have been consistently withdrawing LINK from exchanges over the last few days, hinting at a quiet accumulation ahead of a breakout. Additionally, several on-chain metrics have turned positive, which might trigger a 50% surge on the LINK price chart.

LINK’s 10% Weekly Gain Attracts Altcoin Investors

Chainlink has seen heavy accumulation by large investors in recent days. Big holders pulled about 4.5 million LINK tokens, worth around $62 million, from exchanges this week.

This buying trend looks similar to late 2025, just before LINK jumped 20% in December. Exchange balances are now at multi-year lows, which could limit supply and push prices higher. Additionally, data from CryptoQuant shows this is one of the largest recent accumulations, suggesting smart investors may be preparing for a price rise.

Also read: Chainlink Price Prediction 2026, 2027 – 2030: Will LINK Price Reach $100?

The reason behind the strong accumulation is the strong ETF inflows and recent approval of Bitwise LINK ETF. Grayscale’s new LINK ETF has brought in about 42 million since launching in December. Hence, the SEC’s approval of spot LINK ETFs from Bitwise and Grayscale is a big step forward, even though trading activity is still much lower than Bitcoin and Ethereum ETFs. 

Data from Coinglass shows a sharp increase in Chainlink’s open interest in recent days. LINK’s OI jumped from the low of $510 million to a recent high above $700 million. This suggests that trading activity is increasing with a rise in volatility, which might help LINK breaking above immediate resistance levels.  

Additionally, Chainlink has crossed a major milestone, with total fees surpassing 6.9 million. This shows strong real usage across apps and enterprise projects. This means that more smart contracts rely on Chainlink’s data services, making it a key part of Web3. Rising fees highlight growing demand, preparing LINK price for a significant rally ahead.

What’s Next for LINK Price?

Chainlink is trading near its short-term moving averages, suggesting the downtrend is losing strength. As of writing, LINK price trades at $13.3, declining over 5% in the last 24 hours.

Though Chainlink is declining in recent hours, it is holding above the 20-day EMA around $13.28, while the 50-day and 100-day EMAs remain overhead, acting as resistance near the $13.6–$13.8 zone.

The RSI has declined sharply and is currently hovering below the midline at level 46, showing bearish momentum with strong pressure from sellers. A sustained move above the descending resistance line could open the door for a push toward higher levels. On the upside, LINK price might head toward $20 before facing any significant selling pressure.

However, if LINK slips below the 20-day EMA, the price may retest lower support areas near $13. Overall, the trend is bullish and slightly improving as buyers accumulate around the dip.