Price Analysis View Non-AMP

Chainlink Price Surges Past $21, Can LINK Hit $26?

Published by
Shrishesh Tanksalkar

Chainlink has grabbed the market’s attention by making it to the top gainers list after surging 13.83% in the last 24 hours. This, while maintaining a 32.25% gain over the past week. LINK’s rally has been fueled by both strong technical signals and on-chain catalysts. Central to this bullish momentum is the launch of Chainlink’s new reserve mechanism. This was alongside significant whale and institutional inflows that could redefine its mid-term trajectory.

The Chainlink Reserve, launched on August 7th, has already locked over $1 million worth of protocol revenue into LINK. This mechanism creates a deflationary loop that holds the potential to sustain price strength over time.

On the other hand, whale wallets holding 100k–1M LINK expanded their balances by 4.2% in early August, adding 4.55 million LINK worth ~$97 million. Meanwhile, derivatives open interest rose 27% and trading volume spiked 271% to $2.7 billion, signaling strong positioning without excessive leverage risks.

Chainlink price is now at $21.41, with a $14.52 billion market cap and $1.33 billion in daily trading volume. LINK’s breakout above the $21 psychological barrier marks a confirmed shift in market structure. After hitting a daily high of $21.24 and a low of $18.78, the asset now sits above multiple strong support levels. 

LINK’s price action has decisively cleared the 200-day EMA at $17.02 and broken the long-standing descending resistance at $18.40. The RSI at 65.56 shows healthy momentum without slipping into overbought territory, while MACD confirms a bullish crossover.

That being said, the immediate upside targets are $21.89 and $23.99, which is the June high. A sustained push could open the door to the $26.20 resistance zone. Contrarily, the LINK price could plummet to the lows of $19.51, followed by $17.64. That being said, deeper correction could take the price to $15.83.

FAQs

Why is Chainlink price surging?

The launch of the Chainlink Reserve, which locks protocol revenue into LINK, combined with whale buying and a major technical breakout above key resistance, has fueled the price surge.

Where is Chainlink price heading next?

While the supports are at $19.51, $17.64, $15.83, resistances are at $21.89, $23.99, and $26.20

What is the price of 1 LINK token?

The price of 1 LINK token at the time of press is $21.41.

Shrishesh Tanksalkar

Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

Recent Posts

PEPE Price Prediction 2025, 2026 – 2030: Can Pepe Memecoin Reach 1 Cent?

Story Highlights The live price of the PEPE coin is . Analysts predict PEPE could…

August 9, 2025

New SHIB Burn Mechanism Announced Through Gaming Push

Shiba Inu continues to evolve with new ways to earn and burn tokens through gaming,…

August 9, 2025

AERO Price Surges 43% in a Week on Coinbase DEX Boost

Aerodrome Finance has made it to the limelight of the DeFi market this week, surging…

August 9, 2025

Chainlink Price Prediction 2025, 2026 – 2030: Will LINK Price Reach $100?

Story Highlights The live price of the LINK token is . Price prediction for 2025…

August 9, 2025

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Reach 1 Dollar?

Story Highlights The live price of the Dogecoin is . Analysts project Dogecoin could reach…

August 9, 2025

Ripple News: Full SEC Lawsuit Timeline and XRP ETF Outlook

Ripple vs SEC case ends after nearly five years of legal battle. This landmark case…

August 9, 2025