Chainlink Price Forecast: Will It Reach 30 Dollars or Experience Another False Breakout?

Chainlink Price Movement: Chainlink is currently testing the $27 resistance level, which could lead to a rally towards $30 if broken. The cryptocurrency trades around $24.84 with support between $22–$23.

On-Chain Activity and Demand: Significant whale accumulation and an increase in new wallets indicate healthy demand for LINK, with large investors acquiring 1.1 million LINK worth nearly $27 million in one week.

Institutional Adoption and Utility: Chainlink's Total Value Secured (TVS) has surged 140% year-over-year, reaching $84.7 billion, as it provides secure data feeds for decentralized finance applications and partners with traditional financial institutions.

Market Sentiment and Technical Indicators: Community sentiment remains bullish, supported by rising technical indicators like the RSI and MACD. However, caution persists regarding potential risks if the $27 breakout fails.