Key Insights
- Chainlink price may be on the cusp of a strong bullish breakout in the near term.
- The token is about to flip the Supertrend indicator green after forming a double-bottom and a falling wedge pattern.
- Chainlink has announced a major partnership with Figure Technology, an $8 billion Nasdaq-traded company.
Chainlink price is nearing a bullish indicator flip. ETF inflows add momentum to the trend. Strategic LINK ETF shows strong accumulation. Chainlink also secured a deal with Figure Technology. The $8.3B partnership boosts confidence in the project.
Chainlink Price Technicals Point to an Eventual Rebound as it Nears Supertrend Flip
The daily timeframe chart shows that the LINK price rebounded from this month’s low of $11.60 to a high of $14.68. The chart highlights a rebound after a clear double‑bottom at $11.60. It then broke through a neckline at $13.50, marking its peak on November 26.
It had also formed a falling wedge pattern, which is shown in black. This pattern consists of two descending, converging trendlines. A breakout occurs as they meet, and that breakout has now taken place.
Most importantly, the coin is about to flip the Supertrend indicator from red to green. It’s a move that will lead to more upside. The last time that this happened was in August when the Chainlink price was trading at $16.18. It then rebounded by 67% shortly after that.
On the other hand, Chainlink flipped the Supertrend indicator from green to red in October, leading to a 51% crash. Therefore, there is a likelihood that the Chainlink price will continue rising. This happened as bulls target the 100-day EMA level at $16.8.
It is much higher than the current $13. A move above that level will point to more upside as bulls target the resistance at $20.
On the other hand, the bullish Chainlink outlook fails if the price falls below the double‑bottom support at $11.56. This level is the key invalidation point for the current setup.
Chainlink Partnership With Figure Technologies
Chainlink announced a major partnership with Figure Technology. The company has a market capitalization of over $8 billion. This deal stands out as a key catalyst for the LINK price momentum.
In a statement on Thursday, Figure announced the launch of an RWA tokenization consortium to develop on-chain finance on the Solana network. Other companies involved in the deal are Privy, Kamino, and Raydium.
Chainlink will provide the cross-chain interoperability protocol (CCIP), which will enable communication across multiple chains. If successful, the partnership will likely lead to more fees for the Chainlink network.
This will help it expand the recently-launched Strategic LINK Reserves, which now hold over $14 million in assets. This partnership was announced the same day Chainlink revealed its tech would connect Coinbase’s Base and Solana.
The dual news strengthened optimism around Chainlink’s expanding role in blockchain interoperability. This bridge allows builders on Base to support Solana assets in their applications.
Chainlink ETF Growth & Supply Dynamics Fuel Bullish Outlook for Chainlink Price
Meanwhile, the recently launched Grayscale LINK ETF (GLNK) has continued to accumulate assets. It’s a sign of the robust demand among investors. Data shows that the ETF has had over $45 million in inflows, bringing its net assets to over $71.7 million.
This growth is notable as it has now overtaken other ETFs like the Canary Hedera ETF (HBR). It has $64 million in assets. It also overtook the two Dogecoin ETFs that have $6.92 million in assets.
Chainlink ETF demand is rising strongly. At the same time, Chainlink price benefits as exchange assets keep falling.
Data compiled by Nansen shows that the balances have dropped to 217 million, the lowest level this year. It has been in a strong downward trend after peaking at 323 million earlier this year.
Chainlink demand is rising quickly in the United States. At the same time, its supply keeps falling. This dynamic strengthens Chainlink’s market outlook. This combination often leads to more gains over time.
LINK price has strong technicals and fundamentals. It has formed a falling wedge pattern and is about to flip the Supertrend indicator green. Also, the token’s supply in exchanges has continued falling, while demand from ETFs and the Strategic LINK Reserves is growing.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
