Chainlink (LINK) has officially surpassed the important psychological resistance level at $15, sparking a new wave of optimism and opening up opportunities for a potential breakout towards the $20 region.
Although a slight adjustment of -0.34% was recorded in the past 24 hours, the overall trend structure of LINK remains solid, with prices currently hovering around the $15.32 mark at the time of writing.
This current bullish momentum is driven by persistent accumulation pressure and positive on-chain recovery signals, reflecting a return of investor confidence in this asset.
As the price action continues to move within an ascending channel, current technical signals indicate that the market is ready to aim for higher milestones — as long as the growth momentum continues to spread and be sustained across multiple market layers.
Are buyers really in control?
Over the past 90 days, the Taker Cumulative Volume Delta (CVD) across both spot and derivatives markets has recorded overwhelming buying pressure from the Takers — a clear sign that buyers are in control.
In other words, traders are actively placing market orders, reflecting strong demand significantly exceeding supply at the time of execution. This is not a temporary speculative 'bounce'.
The consensus between the spot and derivatives markets provides a solid confirmation that LINK's rise is being driven by strong investor confidence.
What is driving the rise of LINK?
The latest on-chain data from Chainlink indicates a strong return of investors across the network.
In just one week, the number of active addresses surged by 53.79%, while new addresses also recorded an impressive increase of 9.21%. Notably, even previously 'dormant' wallets are starting to return to the market, as reflected by a 90.93% increase in addresses with a zero balance.
This simultaneous surge reflects a strong recovery of confidence in the community — a characteristic often seen in accumulation phases before a market breakout.
With the increasing number of active wallets, the demand for LINK is likely to continue to strengthen, adding to the support layer for the surge above $15.
Does the derivatives market align with the breakout in the spot market?
On the Binance exchange, the Long/Short ratio for the LINK/USDT pair has soared to 2.45, with 71.03% of accounts holding long positions.
This spread reflects strong bullish expectations from the majority of traders, perfectly in sync with the positive trend of the CVD index across both the spot and derivatives markets. Notably, this is not just an isolated action from whales, but a sign of widespread confidence within the investment community.
Although excessive focus on long positions can sometimes lead to short-term market volatility, the current bias is being reinforced by on-chain data and a steady increase in the number of active wallets — further solidifying the bullish outlook for LINK.
Will $15.5 become a springboard or a barrier?
Chainlink's liquidation map is showing a dense cluster of orders concentrated in the $15.50–$16.00 price range — a critical area that could shape the upcoming trend.
If LINK can overcome this resistance area, a series of short positions may face liquidation, creating a 'short squeeze' effect and driving prices up significantly due to forced buying. However, this is also a 'double-edged sword': if it cannot convert into a support area, selling pressure could quickly increase, causing prices to reverse.
However, at this moment, buying pressure is still prevailing as prices approach this liquidation zone.
Will LINK head straight to $20?
Chainlink's breakout above $15 seems to be more than just a temporary spike. Strong buying pressure (taker buy) has increased significantly, network activity is more vibrant, along with a clear long order imbalance in the derivatives market — all firmly supporting a bullish scenario in the near future.
If the bulls continue to maintain control and successfully convert the $15.5–$16.0 range from resistance to a solid support area, LINK could very well enter a stronger acceleration phase.
The consensus between on-chain signals and market sentiment indicates a growing confidence in Chainlink's potential to go further, with short-term targets focused on the $20 mark.