Here’s Why the Chainlink Price Could Revisit $50 in 2025

Chainlink price has rebounded after crashing at $10.12 in April, mirroring the performance of most cryptocurrencies. It has jumped by 145% from its lowest level this year, and its strong fundamentals and technicals point to an eventual surge to the psychological level of $50.

Chainlink Price Has Strong Technicals

One of the top reasons why the LINK price may surge and retest $50 this year is its strong technicals on the daily and weekly chart timeframes.

The weekly chart below shows that the stock formed a double-bottom pattern at the important support level at $10 and a neckline at $17.8, its highest level in May this year.

The double-bottom pattern partly explains why the stock has rebounded and is slowly approaching the highest point in December last year.

The weekly chart shows that the token has constantly remained above the ascending that connects the lowest swings since June 2023, a sign that shorts are afraid to sell below that price.

Additionally, Chainlink price has remained above the 50-week and 100-week Exponential Moving Averages (EMA), a sign that bulls are in control today.

Therefore, the most likely LINK price forecast is bullish, with the initial target level being at $30.95, its highest level in 2024. A move above that level will point to more gains, possibly to the psychological level of $50, which is about 103% above the current level.

The bullish LINK price forecast will become invalid if it drops below the support at $20. Such a move could push it to the ascending trendline at around $12.

Potential LINK ETF Application

Another important catalyst that could drive the Chainlink price higher is a potential application of a LINK ETF by one or more American companies.

A closer look shows that firms like GrayScale, VanEck, Bitwise, and 21Shares have applied for ETFs on most top 20 cryptocurrencies, including meme coins like Dogecoin and Pepe. Some firms have even applied for ETFs on tokens like Bonk and Official Trump.

Yet, no one has applied for a spot LINK ETF. Chainlink boasts of a market capitalization of over $16.6 billion and is one of the most liquid tokens, with daily trading volume of over $2 billion. As such, there is a long shot that one or more companies will apply for a spot LINK ETF, which will then be approved, potentially by the end of the year.

Chainlink and SBI Partnership Could Boost its Price

Meanwhile, Chainlink price could surge to $50 after the latest partnership with SBI Holdings, one of the biggest companies in Japan with over $200 billion in assets.

In their announcement, the two companies noted that the partnership will see them explore areas like institutional digital asset adoption. SBI will use the Cross-Chain Interoperability Protocol (CCIP), Chainlink SmartData, and its proof of reserve tools.

SBI is one of the many companies that have partnered with Chainlink. The other notable ones are giant firms like UBS, Swift, and JPMorgan.

Chainlink Crypto is a Market Leader in Emerging Industries

Further, the LINK price will surge because the network is widely used in various sectors expected to grow.

For example, Chainlink is the biggest player in the oracle industry, where its tools are used to connect off-chain to on-chain data. In this, DeFi Llama data shows that it has close to $60 billion in total value secured (TVS), including top dApps like AAVE and Compound.

Chainlink’s CCIP technology has also become highly popular in the Real-World Asset tokenization industry, a sector that is expected to be worth billions of dollars over time.

All this growth will lead to higher revenues for the network, which will boost its price, especially after the recent launch of the Strategic LINK Reserves, which has already accumulated over $2.5 million assets.

To sum it up, Chainlink price has strong technicals and fundamentals, including whale buying, that will propel it higher in the next few months.