Chainlink (LINK), the native token of the decentralised oracle network, has reached its highest price in seven months, buoyed by a wave of institutional partnerships and promising technical signals. Traders and analysts alike are eyeing potential breakout levels that could set the stage for significant gains in the current market cycle.
At the time of writing, LINK trades at £17.30 (US$22.05), having rallied sharply in recent weeks. This marks a pivotal moment for the token, which now sits just 9% below a critical resistance level of US$24, a threshold that some market observers believe could trigger a strong upward move.
Technical Breakout Signals Suggest Higher Targets
Several analysts have identified bullish technical formations in LINK’s price structure. On the biweekly chart, LINK appears to have broken out of a multi-year accumulation triangle pattern, a setup often associated with the start of extended rallies.
If this breakout holds, projections point to potential targets of US$35, US$50, and even US$100 over the course of the cycle. Market analyst Ali has forecast that LINK could surge to US$95 if it decisively breaks above the US$24 mark.
Adding to this bullish picture, on-chain data shows LINK’s exchange supply has fallen to an all-time low following the launch of the Chainlink Reserve. This decline in available supply suggests ongoing long-term accumulation and reduced immediate selling pressure, conditions that historically precede price appreciation.
Institutional Collaborations Strengthen Market Confidence
One of the primary drivers of recent optimism is Chainlink’s deepening relationships with leading global financial institutions. Publicly announced pilots and integrations now include collaborations with SWIFT, Euroclear, JPMorgan, Mastercard, UBS, SBI, ANZ, Fidelity International, and even the Central Bank of Brazil.
These initiatives are designed to explore cross-chain interoperability, data exchange, and tokenised asset transfers, areas where Chainlink’s oracle infrastructure plays a crucial role.
For instance, the SWIFT pilot programme is testing cross-blockchain messaging and asset transfers with multiple international banks. Meanwhile, the Central Bank of Brazil’s DREX project, a key component of the country’s digital real currency initiative has confirmed Chainlink’s involvement in its development phase.
“LINK Is What XRP Was Meant to Be”
Community sentiment has also turned increasingly positive. Crypto commentator Zach Rynes noted that no other blockchain project possesses as strong a moat as Chainlink, citing its hundreds of millions in generated revenue even before full-scale institutional blockchain adoption.
One X (formerly Twitter) user summed up the prevailing mood: “LINK is everything people thought $XRP was supposed to be. Onboarding all the world’s largest institutions on-chain.”
Short-Term and Long-Term Outlook
While the long-term fundamentals appear robust, short-term traders are watching the US$24 level closely. A confirmed breakout above this resistance could act as a catalyst for a rapid move higher, with the next major targets in the US$30–35 range.
The combination of supply scarcity, bullish chart patterns, and growing institutional use cases has created a favourable environment for LINK’s continued appreciation. However, as with all crypto assets, volatility remains high, and traders are advised to monitor both macro-economic conditions and on-chain activity.
If current trends persist, Chainlink could be entering a new growth phase, one that blends real-world adoption with long-awaited technical momentum.
