Chainlink Price Eyes $30 Amid U.S. Department of Commerce Partnership

Highlights:

• Chainlink price has slipped 1.33% to $23. 
• The drop comes despite LINK’s partnership with the U.S. Department of Commerce.
• The bulls target $30, fueled by the recent partnership.

The Chainlink price has decreased 1.33% to $23. The daily trading volume has surged 98%, indicating heightened investor confidence. The slip comes despite the partnership between Chainlink and the U.S. Department of Commerce, an essential step toward integrating blockchain technology and government information. Chainlink, one of the most popular decentralized oracle networks, is poised to bring critical economic data on-chain, including GDP, inflation, and other key indicators. The collaboration aims to make this data more visible and accessible by leveraging blockchain technology.

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We’re excited to work with the U.S. Department of Commerce to bring key government economic data onto @arbitrum, @avax, @base, @BotanixLabs, @ethereum, @LineaBuild, @Mantle_Official, @Optimism, @SonicLabs, and @zksync.

Chainlink is the only oracle platform bringing all 6 of… https://t.co/ZXjILRSjc3 pic.twitter.com/RIPY8BnyEE

— Chainlink (@chainlink) August 28, 2025

The move should offer cryptographic verifiability and transparency to assure the integrity of data. Chainlink is emerging as the preferred economic data platform due to its robust infrastructure, which enables the prevention of data manipulation. Chainlink enables such formal statistics to be made more transparent and verifiable to the public by leveraging decentralized technology.

LINK Open Interest Holds Steady

Chainlink price aims for a breakout towards $30 as retail demand soars. CoinGlass data also show that LINK’s future OI, or the nominal amount of outstanding futures/options contracts, has been growing and leveling off at a level of over $1.67 billion amid much risk-off sentiment.

Such continuous growth in OI indicates that an increasing number of traders are betting on a short-term price rise. Traders should, however, be cautious because the futures funding rate is currently at 0.0002%, following a peak of 0.0125% as of August 28. More traders are not exploiting long positions in LINK, which might cool the market’s positive sentiment.

The Chainlink price daily chart shows that the token is consolidating within a rising channel. Moreover, a golden cross indicates that a classic long-term uptrend is likely to be imminent. The immediate support zones at $20.22 and $15.89 further reinforce the positive outlook in the Chainlink market. 

The RSI at 51.76 indicates a state of equilibrium momentum, with neither the bulls nor the bears in control. However, a breakout in either direction will determine Chainlink’s price movement. On the other hand, the MACD indicator has made a bearish crossover, indicating a prevailing sell signal. This calls for caution among traders and investors, as further downside could be plausible. 

Chainlink Price Gears Up for a Rally Ahead

Looking ahead, the Chainlink price is expected to break above $30 soon. A rejection at this level will see a decline to $20. A drop below that could see Chainlink price target $15, where the next support lies. LINK’s trading volume has exploded in the last 24 hours by over 95%, backing the current breakout move. Litecoin has the potential for a short-term pump to $27-$30 if momentum holds. However, in the long term, if the current partnership is successful, Chainlink could reach $45-$50 by the end of Q4. 

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