Chainlink’s native token, $LINK, has seen significant performance this week, currently trading around $22.4. This level is being recognized as a crucial support area, leading traders to speculate on a potential rise to $47 in the upcoming weeks.
The optimism surrounding $LINK is fueled by its robust technical performance and its recent practical applications, especially highlighted by its collaboration with international money-transfer giant Swift. This partnership has the potential to enhance the utility of $LINK and bolster its position in the market.
Chainlink is widely recognized for its decentralized oracle network, which acts as an essential bridge between smart contracts and external data, thereby integrating blockchain technology with traditional finance. Analysts have expressed that the $20 mark serves as an interesting support level. The stability displayed by $LINK over the past week has prevented more significant declines in the market. Currently, there is a resistance level at $23; surpassing this could initiate a new bullish trend.
From a technical perspective, $LINK appears to be on a steady upward trajectory. The token has recently stabilized above its 50-day exponential moving average (EMA) in the daily charts, which is often a precursor to sustained price increases during bullish phases. The daily relative strength index (RSI) has risen to 50 from 43 in the previous day, indicating increasing buying pressure while still remaining below overbought levels. Analysts, including market experts, have expressed hope that this momentum could facilitate a price increase toward the predicted $47 mark.
In a recent commentary, market analyst Ali noted that Chainlink managed to sustain itself above the critical support level of $20. These encouraging indicators are emerging alongside stability seen in major cryptocurrencies like Bitcoin and Ethereum, providing an additional boost to established altcoins such as $LINK.
The partnership with Swift, which was unveiled during the Sibos conference, has further strengthened Chainlink’s position in the market. The two firms are set to launch a live test with UBS Asset Management in late September 2025, focused on introducing tokenized funds on a blockchain for improved asset management.
The future price movement of $LINK is expected to correlate with broader trends in the cryptocurrency market and developments surrounding new adoption. As Chainlink continues to grow its institutional backing, the outlook remains positive.
Traders will closely monitor the resistance at the $23 level. If $LINK can break through this barrier, it may pave the way for further gains and attract investors waiting for confirmation of a breakout. Chainlink’s consistent advancement in an often chaotic crypto market serves as a reminder that sustained value can be built over time, even amidst the noise of speculation.
