🛑 Can Chainlink Price Reach $30 in May as SEC Chair Paul Atkins Backs Tokenization? 📈
Chainlink (LINK) is at a pivotal point amid a boom in demand for securities tokenization, which will only increase after the SEC Chair Paul Atkins released a statement saying this industry could help achieve President Trump’s dream for the US to become the “crypto capital.” Atkin’s statement has bolstered a bullish sentiment around Chainlink price, as traders speculate on whether it could finally reach $30.
At press time, LINK price trades at $16.58 after recording a 4% drop in 24 hours, as the crypto market dropped today, May 13, due to a drastic surge in long liquidations.
Chainlink price may be on the verge of a massive upward move after an inverse head and shoulders pattern appeared on the one-day chart, which is an indication that an uptrend is looming that may push LINK to as high as $30 in the near term.
This pattern has an upward sloping resistance, and after breaking above this level, Chainlink is now testing it as support, and if it holds, it may spark a 45% price increase to $23.
If bulls maintain control at this price, the token could surge past $30 in May and reach 2025 highs.
The ADX line is tipping north, and this is an indication that the upward trend depicted by this bullish pattern will likely continue, which also makes a bullish case for the Chainlink price.