Chainlink Price Soars 12% Amid Expansion Through 14 Integrations Across 8 Blockchain Platforms – Bulls Aim for a 26% Rally
Highlights:
- Chainlink’s price has skyrocketed 12% to $25 at press time, as trading volume spikes over 214%.
- The recent rally follows Chainlink’s expansion through 14 integrations across eight blockchain platforms.
- Moreover, Chainlink has partnered with Euroclear, enhancing blockchain integration in financial systems.
The Chainlink price has broken out in a splendid show of bullish muscle, surging 12% to $25.80 at press time. The spike in interest has seen the trading volume rise over 214% to $2.98 billion, indicating heightened market activity. LINK is now up 38% in a week, 6% in a month, and 61% in a year.
The recent rally comes as Chainlink boasts expansion through 14 integrations across eight blockchain platforms. This has enabled broader use cases and supporting systems like Ethereum, Optimism, Base and Arbitrum.
⬡ Chainlink Adoption Update ⬡
This week, there were 14 integrations of the Chainlink standard across 7 services and 8 different chains: @arbitrum, @base, @ethereum, @LineaBuild, @0xMantle, @Optimism, @Scroll_ZKP, and @soneium.
New integrations include BTGuru, @CycleXTeam,… pic.twitter.com/Af5TFpF0wM
— Chainlink (@chainlink) January 19, 2025
On the other hand, Chainlink has partnered with Euroclear to enhance blockchain integration in financial systems and streamline processes within traditional and blockchain finance.
Chainlink 🤝 Euroclear
"We're bringing the best of both worlds"—Valérie Urbain, CEO of @EuroclearGroup. pic.twitter.com/oftyw2wTaQ
— Chainlink (@chainlink) January 19, 2025
LINK Statistical Data
Based on CoinmarketCap data:
- LINK price now – $25
- Trading volume (24h) – $2.98 billion
- Market cap – $16.45 billion
- Total supply – 1 billion
- Circulating supply – 638.09 million
- LINK ranking – #11
Chainlink Price Breaks Out of a Falling Wedge
The Chainlink price has broken out of a falling wedge pattern, with the bulls entirely taking the reins. At press time, the token soared almost 40% from the lower boundary of the falling wedge, tilting the odds toward the buyers.
Meanwhile, Chainlink maintains a position above the resistance line at $23.53, indicating strong buyer confidence. Although the bulls attempt to stay above $26, sellers actively resist significant price increases. Currently, Chainlink’s price is trading at $25.80, surging by 12% in the last 24 hours.
The recent breakout was also associated with a rise above the 50-day and 200-day moving averages (SMAs), currently at $23 and $15, respectively. These are dynamic supports that add to the bullish bias.
The rising RSI (Relative Strength Index) indicates that bullish momentum is building, though still below the overbought zone of 70, which is not overextended. With strong buying activities evident in the market, traders and investors should watch out for the key resistance zones at $26.70, which is in conjunction with the recent breakout zone.
The MACD (Moving Average Convergence Divergence) also calls for traders to rally behind Chainlink. The MACD in blue (0.4885) crossing above the orange signal line (-0.0687) suggests a bullish grip. This indicates buyer momentum still exceeds selling pressure.
Chainlink Price Could Rally to $32
The bulls have put their best feet forward in the Chainlink market, entirely taking the reins. If the $23.53 support level holds, bulls could seize the opportunity to push the Chainlink price to $30. In a highly bullish case, the gains could extrapolate to $32, a 26% surge.
Conversely, if early profiteering commences in the market, the Chainlink price could fall. In such a case, the $23.53 support level will be in line to absorb the selling pressure. Nevertheless, the bullish sentiment for the LINK price would only be invalidated below the $23.53 support. Such a move would also indicate a change in market structure.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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