- Chainlink (LINK) gains over 7% weekly amid bullish momentum.
- Trading volume spikes 63% as investors anticipate SmartCon 2025.
- LINK maintains strong support above $21, signaling sustained accumulation.
- RSI and MACD indicators confirm continued bullish strength.
Chainlink (LINK) continues its positive trajectory. Over the past 24 hours, LINK has climbed by almost 2.57%, extending its weekly gain to 7.38%. The steady climb reflects investor confidence in the token’s fundamentals and upcoming catalysts.
At press time, LINK is trading at $22.91, supported by a significant surge in trading volume to $1.32 billion, an increase of more than 63% in a single day. The market capitalization stands at $15.54 billion, up by 2.61%, positioning Chainlink among the top-performing large-cap assets in the current market cycle.
Also Read: Chainlink Eyes $30 Target as LINK Network Continues Expanding Strongly
SmartCon 2025 Fuels Anticipation for Chainlink’s Next Move
A major driving factor behind the current enthusiasm is the upcoming SmartCon Conference, set for early November in New York. The event will bring together leading figures from Web3, finance, and government sectors, including organizations such as SWIFT, Mastercard, JPMorgan, PayPal, Aave, and Vodafone.
Historically, tokens’ price tends to rise before major industry events as investors anticipate partnership announcements or ecosystem updates. Chainlink’s recent collaboration with BNB Chain, using its oracles to display government data, strengthens perceptions of growing institutional adoption. The lead-up to SmartCon could continue attracting speculative interest, adding further fuel to LINK’s upward momentum.
Technical Structure Points Toward Bullish Continuation
From a technical standpoint, LINK is maintaining a solid bullish formation on the 3-day chart, currently hovering near $22.99. The token has been trading consistently above the $21–$22 zone, a prior resistance converted to good support now. The higher high and higher low structure shows gradual accumulation and dominant buyer confidence.
On its next major test, it is near its declining trendline off the $27–$28 area. If LINK manages to cross $24 on a solid Volume, it may set off fresh buy interest once again. Important resistance points are seen at $23.80–$24.20, $27.50, and $33.00, and near-term support stays solid around $21.00. A clear breakdown below $18.00 may dampen the morale, but sentiment is otherwise for a continuation of upside.
Indicators Reinforce Positive Market Outlook
Momentum indicators remain consistent with the large-scale bullish trend. The RSI at 58.18 reveals considerable buying strength, below the overbought level. A breakout of 60 should affirm new momentum, an indication of ongoing confidence on behalf of traders.
On the other hand, the MACD stays bullish, as the line stays at 1.96 and the indicator stays at 1.71, and a histogram value of 0.25 reveals a dynamic upward pressure. Even if the histogram does decrease, revealing a slowdown, total sentiment stays positive. Unless a bearish crossover appears, Chainlink’s upward trend stays valid for a move targeting a $27-$30 range for the weeks ahead.
Also Read: Chainlink Eyes $27 Breakout as LINK Price Nears $23 Resistance
