Chainlink (LINK)’s price has entered a bullish pattern and is consolidating around a crucial resistance level. Currently sitting just over $17.60, LINK is looking to extend its monthly rally into August 2025. The asset has climbed over 30% in the last 30 days, driven by rising institutional interest and key bullish patterns on the price charts. A crypto analyst on X Ali Charts recently discussed LINK’s potential in the upcoming month, revealing that the previous $28 forecast for July could come true next month.
“Chainlink LINK looks to be in the middle of a bullish retest at the breakout zone,” the analyst wrote on a post to X. “This setup could pave the way for a move to $22 or even $28!” LINK recently broke above $20, and the recent rebound hints at a retest of this level, which could set it up for the next leg up. Should the coin breach and mantain above the $20 threshold, it could set the stage for a surge to $28 before the summer ends.
LINK’s surge of late is thanks in part to Bitcoin’s rally and the approval of the GENIUS, CLARITY, and Anti-CBDC acts. In addition, there has been plenty of whale movement around Chainlink in the past few weeks, contributing to LINK’s rise. In the past week, Ali reported that whales accumulated over 1.6 million Chainlink (LINK) in two weeks. This surge in whale activity often serves as a bullish signal, suggesting that major players expect future price gains.
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Furthermore, trading volume around the asset in the last 24 hours is down 18% though, as traders await a sign of LINK’s next move. Bitcoin is down on Wednesday, sending altcoins like LINK sliding in price. Furthermore, its failure to mantain above $18 in the last few days has caused some concern.
However, the market still remains bullish on LINK, believing a rebound for the Chainlink crypto coin is imminent. Analyst at CoinCodex project the coin to boom in the next 30 days. “According to our current Chainlink price prediction, the price of Chainlink is predicted to rise by 5.84% and reach $ 18.66 by August 28, 2025,” the analysts write. “Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 74 (Greed).”