Chainlink Price Targets 177% Rally As Bullish Pattern Emerges, ETF Speculation Rises.
NOIDA (CoinChapter.com)— Chainlink (LINK) price has gained momentum following the recent TOKEN2049 event. Moreover, speculations of a Chainlink ETF are gaining traction, especially following the launch of the Grayscale XRP trust.
Rising institutional interest in tokenized real-world assets (RWA) also helped LINK’s price action. Since 2022, Chainlink’s technology has powered $15.49 trillion in DeFi transaction value.
Analysts Bullish on Chainlink ETF Possibilities
Market analysts have remained optimistic about a potential Chainlink ETF, especially following Grayscale’s launch of an XRP Trust. The creation of this trust for XRP has reignited hope that Chainlink could follow a similar path.
As XRP’s trust signifies regulatory confidence in certain assets, investors speculate that LINK may be next in line for an ETF launch.
Traders remained bullish about the prospect of a LINK ETF happening.
Social media posts from crypto analysts reflect this bullish sentiment. Crypto investors like Kyle Chassé and Frogman speculated that a LINK ETF could surprise many in the market, highlighting its potential to catch investors off-guard.
21Shares, one of the major players in the crypto ETF sector, offers a LINK ETP with over $10.72 billion in AUM. The product’s YTD performance is sad, though: It is down over 28%.
21Shares Chainlink ETP.
Moreover, 21Shares holds substantial LINK tokens and has integrated Chainlink’s Proof of Reserve technology into its existing ETF offerings. This has further fueled speculation that LINK could be positioned for an ETF debut.
The rising enthusiasm follows positive market performance. LINK surged by 7% recently, adding to the growing belief that institutional interest and Chainlink’s broader ecosystem developments could soon manifest in a regulated financial product, like an ETF.
TOKEN2049 and Sergey Nazarov’s Comments
At TOKEN2049 Singapore, Chainlink co-founder Sergey Nazarov painted an even more expansive vision for the future of the blockchain ecosystem, particularly about integrating real-world assets into Web3. Nazarov predicts that the value of tokenized RWAs will soon surpass that of cryptocurrencies.
He emphasized that TradFi will become the largest customer of DeFi, as institutions increasingly look to blockchain to tokenize assets ranging from real estate to more advanced financial products like carbon credits and private equity.
Chainlink founder highlighted decentralized infrastructure reshaping TradFi at TOKEN2049.
One key technology enabling the shift is Chainlink’s CCIP, which Nazarov described as a bridge between central bank digital currencies (CBDCs), public blockchains, and private financial networks.
CCIP enables seamless value transfers across chains, improving interoperability between legacy systems and blockchain. As legal barriers ease, especially in Asia and the Middle East, trillions may enter Web3.
The potential influx of institutional capital and tokenization places Chainlink at the DeFi-TradFi convergence.
LINK Prices Form Bullish Pattern
Meanwhile, the LINK USD pair has formed a bullish technical setup called the ‘falling wedge.‘
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
LINKUSD pair formed a bullish setup with a 177% upside target. Source: Tradingview
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards. Increased trading volume during the breakout confirms the strength of the reversal, reinforcing market confidence and the likelihood of success.
According to technical analysis rules, the LINK USD conversion rate might rally over 177% from its current level to reach the pattern’s projected target of around $31.
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