Chainlink’s bullish run could sustain its climb toward $25

Chainlink has been turning heads lately - not just with its price action, but with real signs of momentum that go beyond the usual crypto chatter. After bouncing confidently from $15, LINK is charging up the charts and flirting with key resistance levels. 

Spot market demand is strong, derivatives traders are piling in, and the buzz around real-world adoption is only adding fuel to the fire. But is this rally built to last - or is it another overextended sprint heading for a stumble?

Buyers are back in charge

Let’s start with what’s driving the excitement: Analysts say Chainlink’s chart is looking undeniably bullish. Since early July, it’s been forming a solid uptrend with higher highs and higher lows - a classic structure that signals strength. After holding firm near the $15.20 support level, LINK has been grinding higher with only minor pullbacks, each one met with renewed buyer enthusiasm.

Momentum like this isn’t just price noise - it’s backed by real conviction. The Spot Taker Buy Volume shows that aggressive buyers have consistently outpaced sellers over the past 90 days. 

Many say that’s not a fluke - it’s a signal that bulls are in control, at least for now. To add to that, trading volume recently crossed $659 million in a single day. That’s not thin air, according to analysts.. That’s real market activity, suggesting that LINK’s price rise isn’t just happening in a vacuum - there’s participation, liquidity, and actual interest at this level.

Derivatives data tells a mixed story

On the futures and options side, things are heating up - but perhaps a little too much. Funding rates have flipped back into positive territory after spending weeks in the red. 

In plain terms, traders are now willing to pay a premium to hold long positions. That’s usually a vote of confidence - a bullish crowd, happy to put their money where their mouth is.

Open interest also jumped 8.47% in 24 hours, rising to a whopping $843 million. 

That spike shows a clear uptick in speculative activity. But here’s the catch: when open interest rises this sharply near key resistance, it often means the market is getting a bit top-heavy. If price momentum stalls, those overleveraged longs could be in trouble, and the resulting liquidations could cause a sharp drop.

On-chain signals suggest caution

Zooming out, analysts say that on-chain metrics are sounding a quiet alarm. The MVRV ratio, which tracks how much profit holders are sitting on, has climbed to 37.87%. That means a lot of people are now in the green, and historically, this is where many start to take profits. It’s not a sell signal in itself, but it’s a reminder that FOMO isn’t the only force at play.

Then there’s the NVT ratio, which keeps spiking. This ratio compares market cap to network activity, and rising levels suggest that price is outpacing actual usage. So while the rally looks great on paper, it’s moving faster than the underlying fundamentals, never a good long-term pattern.

Chainlink's real-world adoption adds fuel

Still, there’s more to this rally than just speculation. Chainlink’s tech is gaining traction in the real economy, and that’s no small thing.

Take Tokenyze, for example. They’ve just joined the Chainlink BUILD programme, and their focus is on tokenising physical assets - metals like copper and aluminium, backed by actual warehouse receipts. These aren’t digital promises - they’re real, tangible commodities brought on-chain using Chainlink’s Proof of Reserve, real-time price feeds, and cross-chain interoperability protocols.

Tokenyze is using ERC-3643 standards to mint tokens that can be wrapped into ERC-20, making them instantly compatible with DeFi platforms. Investors can buy, lend, or use these asset-backed tokens as collateral, just like any crypto, but rooted in real-world value.

This isn’t just a headline partnership. It’s a clear sign that Chainlink is evolving from an oracle provider to an infrastructure layer for tokenised finance. The collaboration also involves Tokenyze sharing part of its native token supply with Chainlink stakers and service providers - a model that aligns incentives and strengthens the ecosystem.

Chainlink price prediction: Can LINK push through $25?

The rally has real legs, according to analysts. There’s spot demand, derivatives enthusiasm, and institutional-grade adoption all converging at once. But that doesn’t mean it’s a straight line to $25.

Yes, the momentum is strong, and if LINK can smash through resistance near $18.81, the path to $25 opens up quickly. But elevated open interest, profit-heavy wallets, and shaky on-chain ratios suggest we could see a test of nerves before the next leg up.

At the time of writing, Chainlink is still on a tear, but there are signs of waning momentum, with a large wick forming at the top. It remains to be seen whether the wick will signify price exhaustion or if the uptick will reaccelerate. If we see an uptick, bulls will be in price discovery mode on their way towards $25. Conversely, if we see a price reversal, sellers could find floors at the $15.00 and $13.41 support levels.

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