Chainlink (LINK) on the Move, Can the Rally Continue Toward $20?

By: bitcoin ethereum news|2025/05/09 19:45:06

Chainlink has rallied 8%, now hovering around $16. LINK’s daily trading volume has soared over 150%. The recent recovery of the crypto market has shifted the red trend to green. Major assets have made steady gains with Bitcoin (BTC) climbing into the $104.2K range, and Ethereum hovering at around the $2.3K range. Meanwhile, Chainlink (LINK) has registered an 8.51% increase. Chainlink opened day trading at a bottom range of $14.83. Gradually, on the bullish heels, the asset climbed to a peak of $16.69, and chose to trade on the upside. At the time of writing, Chainlink trades at the $16.15 level with a market cap of $10.61 billion. Furthermore, the market observed a liquidation of $2.57 million worth of Chainlink during this period, as per Coinglass data. Notably, the asset’s daily trading volume has surged by over 150%, reaching $875 million. Can Chainlink Hit New Highs? Chainlink’s upside price correction has pushed the price higher to test the resistance at around $16.50. Assuming the asset’s extended gain, its price might head toward the $17 resistance range and kickstart the golden cross. A reversal of the ongoing price action could trigger it to fall toward the support zone at the $16 range. If the downside correction strengthens, Chainlink could break below the $15 support zone, inviting the death cross to emerge. The asset’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line, indicating bullish crossover with the potential for further upward movement. In addition, the Chaikin Money Flow (CMF) indicator of LINK, found at 0.18, suggests that the capital is flowing into the asset with buying pressure in the market. LINK’s daily relative strength index (RSI), resting at 76.95, is in overbought territory, implying the asset’s potential pullback or consolidation. Besides, the Bull Bear Power (BBP) value of 1.671 signals the bullish strength and upward momentum. Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing. Highlighted Crypto News 9% Jump: Is This the Start of a SUI Super Rally? Source: https://thenewscrypto.com/chainlink-link-on-the-move-can-the-rally-continue-toward-20/

-- Price

Morgan Stanley's chief equity strategist Wilson pointed out that the momentum in the semiconductor sector is waning, with the Philadelphia Semiconductor Index having dropped nearly 14% from its peak. Funds are shifting towards AI supercomputing giants like Microsoft, Amazon, and Meta, as well as sec...

Morning Report | Vitalik outlines Ethereum's long-term roadmap, Lean Ethereum will become the third major iteration; SK Hynix seeks to attract more AI investors by listing in the U.S

July 5 Market Important Events Overview

Trump, the best stock trader among U.S. presidents

Trump has almost turned the presidency into a business and maximized the conversion of presidential influence into commercial profits.

From ByteDance to Financial Freedom: How did "Byte Brother" Leto develop his investment judgment skills to achieve a turnaround of 30 million?

Speak with data and signals, validate judgments with A/B tests, and seek asymmetric returns with limited risk exposure.

Selling coins despite a loss of 55 million dollars, the faith in Strategy has reached the interest payment date

The moment faith was securitized, Bitcoin became a bill.

OUSD False Cooperation Controversy? The Credit Game of Stablecoins and Endorsements by Giants

The success of stablecoins does not rely on rallying a group of alliance members for marketing, but rather on whether they have real use cases and genuine users.

Q-Day Countdown: Will Quantum Computing End Cryptocurrency?

In the face of dormant coins being plundered by quantum computing power, should we firmly uphold the unalterable bottom line of "code is law," or should we enforce a soft fork to freeze legacy assets?

The ten years of Cloud on the Air: From corner coffee to global financial infrastructure

How did a remittance company grow into a financial infrastructure that can replace SWIFT; when it really reaches this scale, how should stablecoins be positioned for it; and what can AI integrate into this infrastructure?

$10,000 in TRUMP Token vs. $10,000 in Nasdaq: The "Trump Trade" That Actually Worked in 2026

TRUMP Token lost more than 96% after its launch, while Nasdaq stocks and NVIDIA delivered strong gains. Compare what happened to a $10,000 investment and explore why asset fundamentals matter more than market hype.

The impact of OUSD on Circle, Tether, and Paxos: not a single negative factor, but a more complex reshaping of competition

OUSD will not be the last new competitor; Circle needs to respond more actively in terms of products, distribution, and ecosystem collaboration.

Li Feifei's latest long article: When video generation, robots, and NVIDIA all claim to be world models, we need a taxonomy

Language gives machines a way to talk about the world. The world model is the means by which machines ultimately understand, imagine, reason, and interact with it.

Blaming the desolation of the cryptocurrency world on the rise of AI is a form of intellectual laziness

The emergence of giants signifies a mature business model. Although it will reduce speculative space, there is also enough room for error, allowing for the continuous emergence of new forces.

Strategy Founder: The Next 10 Years of Bitcoin

In the next decade, the biggest evolution of Bitcoin is precisely "responding to change with invariance." The four-year cycle is giving way to capital flows such as ETFs, corporate and sovereign reserves, and bank credit, while digital credit and digital currency will grow layer upon layer on top of...

Forbes Special Report: Stablecoin cross-border payments are faster now, but not cheaper yet

Cross-border payments using stablecoins are rapidly expanding, bringing speed and accessibility, but due to insufficient institutional liquidity, they have not yet delivered on their promised cost savings. The technology has been validated, and regulations are improving, but the industry has not yet...

A valuation of 8 billion dollars, doubling in 8 months! What makes the crypto-friendly bank Erebor Bank stand out?

Erebor is a high-profile experiment taking place at the intersection of banking, cryptocurrency, and industrial policy.

340 billion valuation: Li Yanhong's largest IPO, a seat in Kunlunxin's shares is hard to come by

As a core asset in Baidu's AI landscape, Kunlun Chip is expected to exceed Baidu's market value after going public, becoming an important bargaining chip in its turnaround battle.

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

The cryptocurrency industry has become a traditional industry

For entrepreneurs and retail investors still in this industry, they should either embrace the current changes or explore the next unpredictable field in cryptocurrency.

Chip frenzy cooling down? Morgan Stanley's Wilson: Funds are shifting towards AI supercomputing giants like Microsoft and Amazon