Why is Chainlink Price Up 15%? Is a $30 Breakout Next?

Chainlink price has surged 15% in the last 24 hours, reflecting growing market optimism ahead of Trump’s inauguration today. The overall investor sentiment has been lifted by the crypto market rally particularly from Bitcoin hitting an all-time high. Analysts now anticipate further gains, with Chainlink eyeing a potential breakout to $30. Market participants remain closely focused on this bullish momentum.

The LINK price soared today, outperforming most top altcoins amid optimism sparked by U.S. President-Elect Donald Trump’s inauguration. His administration, widely regarded as pro-crypto, has fueled a positive sentiment across the market. Bitcoin price reacted strongly, hitting a new all-time high of $109,114.

This crypto market rally reflects renewed confidence in digital assets under the incoming administration’s potential crypto-friendly policies. Investors are shifting focus to prominent cryptocurrencies, including LINK, TRUM, MANIA, and BTC. LINK remains among today’s top gainers, highlighting growing interest in its utility and potential.

Chainlink Price Jumps 10%; Could $30 Be the Next Target?

In its recent uptrend, Chainlink has been noted by a crypto analyst, who believes that $30 is possible. The cryptocurrency that is well grounded and has practical applications in the real world has been on the rise in the past few days.

LINK has seen a 15% price surge in recent days – a clear sign that investors are starting to regain their confidence. Analysts say $30 is attainable, especially if the broader market remains supportive of this surge.

LINK Price Breaks Out, Targets 40% Surge

Chainlink’s price rallied above $26, breaking a prolonged descending wedge pattern. The breakout suggests a potential 40% gain, targeting $30. Crypto experts highlight bullish momentum amid increasing buying pressure.

Traders are still hopeful as they trade waiting to break the resistance levels while keeping an eye on other markets that affect the price of LINK.

Chainlink Price Analysis

As of Monday, the LINK price hovered at $25.59, recording a notable 40% surge over the past week. This bullish momentum has placed Chainlink among the top-performing altcoins in the market, showcasing strong recovery signals after recent consolidations.

The Awesome Oscillator (AO) has turned positive at 1.75, indicating strengthening bullish momentum. Additionally, the Chaikin Money Flow (CMF) at 0.13 signals steady capital inflows, highlighting growing investor confidence.

 The next key target for Chainlink price prediction lies at $30, a psychological resistance level. A decisive breakout above $30 could propel the price toward $52, which aligns with the previous highs observed in late 2021.

The $23 level serves as immediate support, followed by stronger support at $20. A break below these levels could challenge the current bullish structure.

Chainlink’s 15% surge signals bullish potential amid broader market strength. With supportive fundamentals and growing interest, $30 is achievable.