The price of Chainlink (LINK) has experienced a sharp surge following its strategic partnership with Abu Dhabi Global Market (ADGM). This collaboration has sparked optimism among investors, fueling bullish sentiment and speculation of a major rally ahead.
Chainlink’s Bullish Momentum: Key Price Levels to Watch
Chainlink has witnessed an 8% price increase over the past week, pushing its value to $15.31. Notably, analysts have identified a bull flag pattern on LINK’s one-day chart, signaling further potential gains. Crypto analyst CW highlighted $12 as a crucial support level, with $18 acting as a key resistance. If LINK breaks past this resistance, experts predict a rapid ascent toward $44.
$LINK bull flag pattern
— CW (@CW8900) March 24, 2025
next target price is $43.8 pic.twitter.com/6AHKMSXnUr
What’s Driving LINK’s Price Up?
The recent surge in Chainlink’s price can be attributed to its strategic partnership with ADGM. Under this agreement, Chainlink and ADGM aim to promote tokenization in the UAE’s financial markets. The Memorandum of Understanding (MoU) signed between the two entities establishes a framework for secure and legally compliant asset tokenization.
ADGM will offer regulatory guidance and a robust framework for tokenized assets, while Chainlink contributes its blockchain expertise and infrastructure. Angie Walker, Senior Executive Officer at Chainlink Labs Abu Dhabi, emphasized the importance of this collaboration:
“Our alliance will elevate the blockchain ecosystem in the UAE, driving greater innovation and adoption. We are excited to see projects under the purview of ADGM Registration Authority adopt the Chainlink standard.”
Analysts Predict Chainlink’s Next Move
Despite a 14% monthly decline, LINK has shown resilience, recording an 8.3% weekly surge. The 24-hour trading volume stands at $339.14 million, reflecting a 1.59% increase. Analyst Marzell notes that LINK is currently trading within a rising wedge structure and has bounced off the 0.786 Fibonacci level at $13.55—historically a strong retracement zone.
If this bullish momentum continues, LINK could reach major resistance levels at $25.80, $32.66, and potentially $40.70. With market sentiment favoring an uptrend, the possibility of Chainlink hitting $44 remains strong.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Chainlink (LINK) Leads DeFi Development, But Can Its Price Catch Up?
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
