{"id":9761,"date":"2025-09-04T09:57:06","date_gmt":"2025-09-04T09:57:06","guid":{"rendered":"https:\/\/bitunikey.com\/news\/link-price-eyes-92-upside-after-defending-support-at-23\/"},"modified":"2025-09-04T09:57:20","modified_gmt":"2025-09-04T09:57:20","slug":"link-price-eyes-92-upside-after-defending-support-at-23","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/link-price-eyes-92-upside-after-defending-support-at-23\/","title":{"rendered":"LINK price eyes 92% upside after defending support at $23"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">LINK price defended the $23 support today, a key level it needs to sustain for a potential rally toward $45 in the coming weeks.<\/p>\n<div id=\"cn-block-summary-block_8a01035908bfc4d9c431e4ea4f352870\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>LINK price has managed to hold support above $23 amid its downtrend over the past week.<\/li>\n<li>Chainlink has secured several key partnerships over the past month.<\/li>\n<li>Based on a double bottom pattern on the weekly chart $31 has emerged as a likely target.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Chainlink (LINK) price dropped 3.3% over the past 7 days.\u00a0 Trading at $23.37 at the time of writing, the token holds a market cap of over $15.8 billion.\u00a0<\/p>\n<p>Despite the recent drop, the token has remained 41% over the past month and 114% above its lowest point this year.<\/p>\n<p>There are multiple catalysts that drove LINK price gains over the past month.<\/p>\n<p>First, the United States Department of Commerce has recently partnered with Chainlink as one of the key oracle providers to bring U.S. government macroeconomic data on-chain.<\/p>\n<p>The partnership with such a high-profile government body has increased visibility and credibility for the project, drawing greater interest from retail traders and potentially strengthening long-term adoption.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Chainlink has also strengthened its foothold in the real-world assets space. It has recently <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/chainlink\/status\/1963237386088767641\" target=\"_blank\">partnered<\/a> with Ondo Finance on the launch of Ondo Global Markets, an initiative that brings over 100 tokenized U.S. stocks and ETFs on-chain.<\/p>\n<p>The confluence of these developments could continue to drive further gains for LINK in the weeks ahead.<\/p>\n<h1 class=\"wp-block-heading\">LINK price analysis<\/h1>\n<p>On the 1-week chart, LINK has managed to hold the $23 support level, which has acted as the neckline of a multi-year double-bottom pattern forming since March of last year.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">LINK price eyes a breakout from a multi-year double bottom pattern on the weekly chart \u2014 Sep. 4 | Source: crypto.news<\/figcaption><\/figure>\n<p>A double-bottom pattern is typically formed when the price drops to a similar low point on two separate occasions and rebounds, signaling strong support and the potential for a trend reversal.<\/p>\n<p>As of press time, the 50-day simple moving average continues to trade above the 200-day, with a golden cross still in play, hinting at sustained bullish momentum.<\/p>\n<p>If this momentum remains intact, LINK could likely target a move to $31, which represents a key resistance level and the upper neckline of the pattern. A decisive breakout above that point could trigger a rally toward $45, the projected target from the pattern, representing nearly 92% upside from the current price level.<\/p>\n<p>As a bearish case, if LINK price falls below $20, it could invalidate the bullish setup and expose the token to deeper downside risk.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LINK price defended the $23 support today, a key level it needs to sustain for a potential rally toward $45 in the coming weeks. Summary LINK price has managed to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=9761"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9761\/revisions"}],"predecessor-version":[{"id":9762,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9761\/revisions\/9762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8848"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=9761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=9761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=9761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}