LINK surges with news of joining the SEC in the United States – A golden opportunity to rise to 28 dollars?

Chainlink (LINK) is experiencing a strong bullish trend. The price has rapidly increased from around 14 dollars to over 17 dollars, even reaching a peak of 19 dollars.

An analyst on platform X has identified the next price level that LINK could reach after breaking through a significant resistance level, amid the context of Chainlink's ecosystem being included in the cryptocurrency task force of the U.S. Securities and Exchange Commission (SEC).

This strong bullish surge occurred from July 12 to July 17, indicating very positive momentum in the market.

As of now, LINK is trading at $17.91, down 2.92% in the last 24 hours but up 16.78% for the week. The price movement indicates that investor confidence is increasing, but the question remains: Where will Chainlink go next?

LINK breaks through an important resistance level

Notably, analyst Ali Martinez has made a forecast based on significant technical developments. Martinez emphasizes the price chart of LINK against USDT on the daily timeframe.

Accordingly, the price has just surpassed the important resistance level around the mark of 17.46 dollars, which has been the "price ceiling" since mid-April until now.

LINK Price Chart | Source: XThe price of LINK breaking through this resistance level is considered an important milestone.

If the price maintains above the level of 17.46 dollars, this could trigger the next bullish momentum, as this is a sign that buying pressure is increasing and it is highly likely that the bullish trend will continue.

Before this breakout occurred, the price consolidated in a clearly defined range, fluctuating between $10.6 and $17.46, with support and resistance levels forming a characteristic consolidation pattern.

Important resistance levels and potential price targets

With the突破 of the $17.46 mark, the next resistance levels that investors need to pay attention to are $19 and $22. If LINK can突破 these levels, the bullish trend will be further strengthened.

Breaking through $22, the next target for LINK will be $28 – equivalent to a potential bullish increase of 52% from the current price. This price point will be a significant milestone, reflecting the increasingly widespread positive sentiment towards the token.

Some analysts are even more optimistic. Analyst ZAYK Charts recently pointed out that the ascending triangle pattern on the chart has been broken.

Source: ZAYK ChartsThis pattern is characterized by an ascending support line and a descending resistance line, often signaling a consolidation phase before a breakout occurs.

The breakout on the resistance trend line indicates that buying pressure is increasing, with a potential price target of up to $30.09 — which is approximately 63.35% higher than the current price.

Chainlink joins the SEC's cryptocurrency task force

While technical indicators and chart patterns play an important role, external factors are also contributing to the bullish sentiment towards Chainlink.

The biggest driving force behind the recent bullish trend comes from Chainlink's announcement that they will join the SEC's cryptocurrency task force.

With the participation of other major parties such as ERC3643Org and EntEthAlliance, this working group aims to build guidelines for the legal and compliant trading of tokenized assets.

The SEC's intervention is a move that indicates a tighter future in the regulation of the crypto market, especially as stricter regulations are expected to be implemented in 2025.

However, this direction aims to clarify the legal framework and create a safer environment for investors as well as users, as it seeks to increase transparency and legal compliance for the tokenized asset market.

The impact of this announcement on investor confidence is likely to be positive. This means a level of legitimization and support from regulatory authorities for the project.

The announcement regarding the partnership between the SEC and Chainlink will largely be seen as a positive development, while also significantly enhancing the recognition and reputation of Chainlink in the market.

Along with the positive technical signals on the price chart of LINK, the collaboration with the SEC makes this token likely to become a well-performing asset in the near future.

Minh Anh