Chainlink (LINK) may reach $102 sooner than expected – The motivations behind the surge

The partnership between Chainlink and SBI Holdings group ( Japan ), along with the ETF Chainlink fund registration filed by Bitwise, has become important "bullish" catalysts that contribute to the excitement in the derivatives market.

At the same time, the addition of LINK to Chainlink's reserve fund further strengthens the long-term sustainability of the network. Notably, the initiative to bring on-chain macroeconomic data in conjunction with the U.S. Department of Commerce has quickly attracted strong interest from investors.

Source: Ali Charts/X Not only stopping at positive information, the technical developments also paint an optimistic picture. On platform X, cryptocurrency analyst Ali Martinez points out that LINK is forming a symmetrical triangle pattern – a signal that often precedes a strong breakout. According to him, if this scenario occurs, LINK could enter a growth phase on a parabolic trajectory, with a price target reaching up to 102 USD in the coming months.

Source: Ali Charts/XMartinez also notes that LINK's capital is flowing strongly out of exchanges. In just 24 hours, more than 5.34 million tokens have been withdrawn, reflecting a clearer accumulation trend from investors.

LINK is likely to target price points of 31 USD and 40 USD

The weekly timeframe shows that Chainlink (LINK) has maintained a bullish market structure since mid-2023, when it broke the 8 USD mark.

LINK/USDT Weekly Chart | Source: TradingViewThe strong uptrend from 8.08 USD to 30.94 USD in 2024 serves as the basis for drawing Fibonacci retracement and extension levels. The results indicate that the next two targets are at 36.33 USD (extension 23.6%) and 45.07 USD (extension 61.8%).

The moving averages continue to strengthen the bullish trend, while the OBV indicator reflects persistent buying pressure throughout 2024, despite a significant correction occurring at the beginning of 2025.

LINK/USDT daily chart | Source: TradingViewOn the daily timeframe, the price structure once again signals a breakout (marked in yellow). Important fluctuation levels include 15.43 USD and 27.87 USD, with 21.87 USD acting as a support bottom.

The technical signals indicate that the bulls are in control, opening up the prospect for LINK to continue its upward momentum. In the short term, the 23.4 USD level will be an important support threshold that buyers need to defend to maintain the upward momentum.

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