Chainlink Eyes $30 Target as LINK Network Continues Expanding Strongly

By Edited By Ammar Raza,
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What to Know

  • Prominent crypto analyst, Ali Martinez, pointed out that Chainlink added 1,963 addresses on October 1 when the network recorded continued growth on the upsurge, as well as increasing adoption.
  • Another crypto analyst, CRYPTOWZRD, pointed out that LINK closed the daily session in a Dragonfly doji candle, generally considered bullish after the sharp rise upward.
chainlink
  • Chainlink network expansion accelerates with over 1,900 new addresses, signaling growing adoption and interest in LINK.
  • Daily Dragonfly doji candles hint at potential upward movement, suggesting a possible surge toward $30.
  • The inverse head-and-shoulders pattern points to $24 resistance, while short-term retracements around $22 remain possible.

Chainlink (LINK) demonstrates renewed bullish inclination as network development maintains a continuous upward trend. Movements of the value indicate possible additional growth as bearish chart formations bear bull outcomes. Analysts await major levels for the subsequent possible breakout.

At the time of writing, LINK is trading at $22.37, with a 24-hour trading volume of $2.21 billion and a market cap of $15.21 billion. In the past 24 hours, LINK experienced a minor decline of 0.71%, reflecting short-term market fluctuations.

Source: CoinMarketCap

Prominent crypto analyst, Ali Martinez, pointed out that Chainlink added 1,963 addresses on October 1 when the network recorded continued growth on the upsurge, as well as increasing adoption. It also denotes the LINK interest as well as the surging activity on its chain.

Source: X

Also Read | Chainlink Rebounds Above $22, Can Bulls Ignite Surge Toward $27?

Another crypto analyst, CRYPTOWZRD, pointed out that LINK closed the daily session in a Dragonfly doji candle, generally considered bullish after the sharp rise upward. Penetrating the daily lower-high trendline for LINKBTC could potentially trigger some further gains, where sharp ones may occur on lower time frames.

Both LINK and LINKBTC finished at Dragonfly Doji candles, indicating potential further upward movement. It could see LINK surge towards $30 on a break above 0.00020 BTC resistance. Investors await shorter time-frame charts for entry points after the price stabilizes.

Source: X

LINK correlated intraday volatility for potential later swings. An inversely shaped head-shoulders pattern implies $24 resistance as the outcome; for the retreat, the retracement of $22 is possible. Investors advise waiting for an exact entry.

Overall, Chainlink’s growth network and favorable chart characteristics suggest the token might be set up for another gain in the short term.

Also Read | Chainlink (LINK) Price Prediction for October 4: Is a Breakout Ahead?

Zagham Abbas

Zagham Abbas

Zagham Abbas is a Blockchain Infrastructure Reporter at Tron Weekly with over five years of experience covering cryptocurrency markets, blockchain infrastructure, and digital asset regulation. His reporting focuses on core blockchain networks, protocol-level developments, decentralized finance ecosystems, and major assets such as Bitcoin, Ethereum, and altcoins.
Zagham covers network upgrades, protocol changes, scalability developments, security incidents, and ecosystem adoption across leading blockchain platforms. He also provides market analysis, explaining how infrastructure updates and regulatory actions impact digital asset markets. His work delivers clear, fact-based reporting for both beginners and experienced readers. He holds a Bachelor of Arts degree and follows strict editorial and fact-checking standards at Tron Weekly.

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