- LINK futures open interest nears $1B, signaling bullish trader sentiment.
- Technical breakout and rising volume support price target near $50.
Chainlink (LINK) has broken out of a long-term consolidation pattern, triggering bullish forecasts from multiple analysts. World Of Charts latest analysis show Chainlink has surged past a critical descending resistance trendline.Â
LINK was trading at $16.31, marking a 4.15% daily gain. Technical projections now target a 130% price move toward $30.79 in the coming weeks.
Just three days earlier, on July 11, LINK was priced at $15.38 with an even stronger forecast. Analysts predicted a 217% rally toward $48.20 if the breakout held.
The price structure shows a clean break from the multi-month downtrend, which has drawn increased attention from traders. Analysts cited LINK’s recovery pattern and higher lows as supporting evidence of renewed bullish strength.
Open Interest Nears $1 Billion as Bullish Sentiment Builds
CoinGlass’ latest data shows a sharp increase in LINK futures open interest, now nearing $1 billion. The latest charts display green bars representing surging open interest, while LINK’s price trend (in yellow) shows a steady climb above $20.Â
Historically, similar rises in open interest have aligned with major LINK rallies near the $50–$60 range. Market analysts noted that growing open interest is often a precursor to increased volatility.
Traders appear to be positioning for another potential price breakout, supported by higher demand and speculative exposure. The data suggests strong investor confidence in LINK’s short-term and mid-term price performance.
Chainlink Partners with GLEIF and Swift for Blockchain Hackathon
Chainlink has joined forces with the Global Legal Entity Identifier Foundation (GLEIF) and Swift to launch the vLEI Hackathon. The event aims to drive forward the adoption of compliant digital assets by integrating verifiable Legal Entity Identifiers (vLEIs) onchain. This move supports blockchain’s evolving role in regulatory-compliant financial ecosystems.
As trillions in traditional assets move toward tokenization, Chainlink’s role in digital identity infrastructure is expanding. The hackathon’s finalist will present their solutions at SmartCon in New York City on November 3, 2025. Participants can register through GLEIF’s website or the SmartCon portal.
The combination of technical breakout, surging futures interest, and enterprise-level partnerships positions LINK as a closely watched asset. Analysts continue to monitor the trendline support and volume strength as LINK eyes the $30–$50 range.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
