The price of the Chainlink (LINK) cryptocurrency is surging on Wednesday, with its price up over 15% in the last 24 hours. The altcoin was up as high as 16.8% in the morning, etching a path to reverse its February drop. The asset had previously surged after US President Donald Trump announced plans for the country’s first crypto reserve. Although LINK was not named, the president noted that it would include “other valuable cryptocurrencies” to purchase to make up the reserve. However, the increase did not last, as it is started March down once again in price.
Fortunately, the coin’s price is picking up some steam and promise. LINK is up to $16.14, and its trading volume has risen by $938.4M. This trading volume rise is a good sign of heightened market interest in the Chainlink cryptocurrency. Additionally, there is returning speculation about its technology being adopted by the U.S. strategic reserve.
Will Chainlink Integration into US Strategic Crypto Reserve Send LINK Soaring?
Crypto trader Nicu shared on X (formerly Twitter) that insiders believe Chainlink’s Proof of Reserves is being integrated into the strategic reserve. This would enhance transparency and security for the US reserve. Chainlink blockchain verification technology is a leader in this technology sector. The potential integration into national reserves would be a major milestone, and send the native LINK cryptocurrency skyrocketing.
Furthermore, Fibonacci retracement levels highlight several critical price zones for Chainlink LINK price. These include the 0.236 level at $14.17, 0.382 at $14.50, and 0.618 at $15.00. LINK has managed to break above all these levels. The ability to surpass the $15.00 threshold also signals strength in the market. If the current momentum persists, LINK’s next target could be the previous high of $16.34. Some analysts suggest even $17.00 is possible.
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Cryptocurrency price prediction platform CoinCodex has forecast the asset to surge to $24.58 in May. Indeed, that would represent a 55% increase from its current position. That turnaround will start as soon as April, when they forecast a monthly high of $ 23.32. In the near term, the asset will have to withstand downward pressure to reach that, but its current climb is promising.