Chainlink’s native token, LINK, is gaining massive attention for moving in a bullish price pattern. Since the beginning of february 2025, the coin has been moving in a descending parallel channel in the four-hour timeframe.
Right now Link has been able to maintain the support of $15.15 and is targeting to cross the $20 mark in the coming days.
Looking at the chart, Link has already broken from its descending channel pattern which started in February 2025. The recent price surge has helped it to breach the 200 EMA and at this rate it can reach $19.30.
With Multiple opens and close at this price, it will be a key level for the future. However $20 will be the Big target as it acts as a mental summit in the minds of traders and investors.
Along with the price action, on-chain metrics also pose a bullish scenario. Data from the on-chain analytics firm Santiment says that LINK’s social dominance is at its highest level in the last few weeks. This means that the token is likely to go up in value.
LINK’s development work has been at its busiest since the beginning of March 2025, which is another sign that the market is going up. LINK’s supply on exchanges has also gone down, which could mean that whales and investors are either buying more or selling it.
After looking at all of these on-chain metrics, it looks like the bulls are back, which could help LINK’s future gains.
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