Chainlink Analysis on May 28, 2025: Is LINK Poised for a Surge to $20?

Chainlink analysis on May 28, 2025: Price at $15.84, with potential to hit $20.

On May 28, 2025, Chainlink (LINK) traded at around $15.84, showing signs of a short-term bullish trend. Its daily trading volume reached approximately $650 million, reflecting significant investor interest. This growth is largely driven by the launch of the Cross-Chain Interoperability Protocol (CCIP) on Solana and high developer activity. Recent reports indicate that Chainlink recorded over 530 major GitHub updates in the past month, demonstrating strong commitment from its development team. The CCIP launch on Solana has enhanced cross-chain data and token transfer capabilities, boosting LINK’s adoption in the DeFi ecosystem. This protocol enables projects like The Graph (GRT) to expand their cross-chain functionalities. However, reports of increased LINK inflows to exchanges suggest potential selling pressure from whales. From a technical perspective, Chainlink is testing key support at $15. The Relative Strength Index (RSI) stands at around 55, indicating balanced bullish momentum. Holding this support could drive LINK toward the $17.28 resistance, and breaking it may push prices to $20. However, a break below $15 could lead to a decline to $13.1. Daily charts show bullish patterns, such as a breakout from a descending trendline persisting since December 2024. The growth of DeFi and rising demand for decentralized oracles position Chainlink strongly. The network is integrated across 16 chains, including Arbitrum, Avalanche, and Ethereum, with an increasing number of smart contracts relying on it. However, whale selling pressure and macroeconomic uncertainties, such as tighter monetary policies, could introduce volatility. Technical indicators like MACD show bullish signals, but trading volume must increase to confirm a resistance breakout. Investors should monitor support and resistance levels and proceed with proper risk management. Overall, Chainlink’s technical advancements and widespread DeFi adoption create a bullish outlook, but selling pressure and market volatility call for caution.