- Chainlink (LINK) hit a 3.6-year high, surpassing $29, with a 32% increase in the past 24 hours.
- Chainlink integrates with Coinbase’s Project Diamond to improve tokenized asset management via cross-chain interoperability.
Chainlink (LINK), the native cryptocurrency of the decentralized Oracle network, has hit a new 3.6-year high—soaring above $29 for the first time since November 2021. The digital asset recorded an intraday high of $29.37—a 32% increase in the past 24 hours. This surge is seen as a significant breakout for Chainlink, which had previously been trading in the $10-$15 range during the bullish market of November.
The rally in Chainlink comes as the global crypto market opened the trading window on a positive note with Bitcoin (BTC) returning to the $100K zone once again. According to the latest CMC data, the Fear and Greed index, market sentiment is at an “extreme greed” score of 80/100, signaling a thriving and optimistic environment.
While Bitcoin is leading the way, other top altcoins such as XRP, SOL, and ADA are also seeing strong gains. However, returning to Chainlink (LINK), it has been spotted as one of the top gainers, showing the maximum gains.
As the bullish rally continues, analysts predict $40 to $50 as the next target for Chainlink, fueled by doubling whale activity. For instance, World Liberty Financial, a prominent DeFi project led by elected president Donald Trump, has spent $10 million in USDC over the past day on various crypto tokens, including Chainlink. This buying spree, tracked through World Liberty’s multi-sig wallet, highlights the growing institutional interest in Chainlink.
Will Chainlink Touch Its Previous All-Time High?
Analyzing the below LINK/USDT 4-hour price chart, its price has broken out of an ascending channel, signaling strong bullish momentum and a potential continuation of its uptrend. Additionally, the bull power indicator value stands at 5.59, and the bear power indicator value is -0.16, indicating dominant buying strength.
Secondly, the MACD line stands above the signal line, further confirming the ongoing upward momentum. Although the RSI is at 71, indicating the asset is in overbought territory. However, it is still showing strength in its uptrend, as per the charts on TradingView.
If so, the price of LINK might reach the resistance levels of $44.34 and $57.12. If the trend reverses, then the price of LINK may fall to the support levels of $20.51 and $12.69.
At the time of writing, Chainlink was priced at $29.18 with a market cap of $18.22 billion. Over the past month alone, LINK has surged by 96%, with momentum not slowing down.
Chainlink’s Strategic Partnership with Coinbase
One of the key triggers for LINK’s current upward movement is the announcement of its partnership with Coinbase. The exchange giant revealed that it will integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) into its Project Diamond platform. This move is designed to accelerate institutional adoption of digital assets.
This integration will provide data and connectivity between public and private blockchains. It will also connect with existing financial systems, ensuring that users have access to compliant solutions. This move positions Chainlink as a vital player in the future of decentralized finance and blockchain interoperability.
