Chainlink Price Analysis: Is $30 Next Target as LINK Holdings Cross $20B?

Michaël van de Poppe predicts a massive upside for Chainlink, with a potential trend switch above critical resistance.

LINK’s holdings grew by $5 billion in 2024, showing increased confidence from investors.

Chainlink is on track to challenge the $30 psychological level, according to technical analysis.

As Bitcoin crosses the $95,000 level, the cryptocurrency market is in a recovery mode. Amid the surge of buying pressure, Chainlink is preparing to skyrocket in this, preparing to capitalize on the increased inflows and start a bullish rally.

Currently, Chainlink remains the 13th biggest cryptocurrency with a $14 billion market cap. Over the past 24 hours, it has increased by 10.35% and is trading above the $22 mark.

Chainlink Reversal Targets $30

In the daily chart, the LINK price action showcases a bullish engulfing candle, undermining the pullback over December 30 and 31. With an 8.61% surge on January 1, the bullish trend continues with an intraday rise of 1.52%.

Photo: TradingView

Currently, LINK is trading at a market price of $22.02 and reclaims the broken 50-day EMA line. While the pullback comes as a potential retest of the broken head-and-shoulder pattern, a bullish closing above the broken neckline at $22 will nullify the bearish pattern.

In such a case, the recovery run could likely retest the previous rejection zone near the $30 psychological mark. On the flip side, the dynamic average lines at $21.11, $18.36, and $16.20 are critical support levels.

Furthermore, the $20 psychological mark has highlighted itself as a high-demand zone.

Analyst Reveals Massive Upside in Chainlink

Amid the ongoing recovery, a well-known crypto analyst Michaël van de Poppe has given bullish projections for Chainlink. Despite the constant low-high formations on the LINK/BTC weekly chart, the current recovery run is searching for a new higher-low formation.

Currently, LINK price is experiencing lower price rejections from a price band slightly below 0.00022 BTC.

Request 02 – $LINK

The uptrend has begun.

It’s now searching for a higher low, however, the valuation of Chainlink against Bitcoin is still super low.

I expect a lot of upside to come for LINK in 2025. pic.twitter.com/RBccFUf7oD

— Michaël van de Poppe (@CryptoMichNL) December 30, 2024

Request 02 –

The uptrend has begun.

It’s now searching for a higher low, however, the valuation of Chainlink against Bitcoin is still super low.

I expect a lot of upside to come for LINK in 2025.

— Michaël van de Poppe (@CryptoMichNL)

With the critical resistance highlighted at 0.0004480 BTC, the price chart by Michaël van de Poppe showcases a massive upside for Chainlink.

If Chainlink manages to surpass this critical resistance, a trend switch will start for Chainlink. This will likely continue with a higher high and higher low formation.

LINK Holdings Grow by $5 Billion in 2024

Over the past year, the bullish confidence among the Chainlink token holders has significantly increased. The has grown from $15.2 billion to $20.57 billion while making a 52-week high peak at $29.43 billion.

This reflects the growth of whale confidence for Chainlink. Balance by holdings between $100,000 to $1 million has grown from $1.08 billion to $1.34 billion while making a 52-week high peak at $1.36 billion.

Photo: TradingView

Finally, the $11.32 billion worth of holdings in more than $10 million of investment has grown to $15.16 billion. Thus, with a bullish 2024, the uptrend in Chainlink is likely to continue.

Chainlink (LINK) shows strong bullish momentum ready to test higher levels, with analysts forecasting significant upside potential for 2025.