Chainlink (LINK) approaches years of resistance! The $30 level may trigger a major rally to $40.

Chainlink (LINK) experienced a dual explosion in volume and price in August, with a nearly 26% increase over the past 30 days, making it one of the best-performing top ten encryption assets. As the price approaches the multi-year trend line resistance level of 30 USD, the market is following whether this long-silent giant will usher in a wave of explosive行情, aiming for the 38–40 USD range.

Volume Surge: Strong Fundamental Momentum

August volume: has reached 2.7 billion USD, accounting for 16% of LINK circulation, expected to break the 30 billion USD record within the year.

July volume: 20 billion USD, the second highest this year.

Driving Factors:

CCIP (Cross-Chain Interoperability Protocol) adopted: implemented by multiple top blockchain protocols

RWA (Real World Assets) Integration: Enhancing On-chain and Off-chain Data Interoperability

Chainlink Reserve Launch: Off-chain revenue is used for systematic buybacks of LINK, with a total of 109,664 coins (approximately 2.8 million USD) accumulated.

These factors provide solid fundamental support for LINK and enhance market confidence in its long-term value.

Technical Analysis: 30 USD is the Key Watershed

(LINK weekly chart, source: Trading View)

* Weekly Chart Observation

The current price is approaching the 27.5 dollar resistance level.

RSI has not yet entered the overbought zone, and MACD has been rising for three consecutive weeks.

If the resistance of the multi-year trendline is broken, 30 dollars will become a dual psychological and technical barrier.

Potential target after breakout: 38–40 USD

(LINK daily chart, source: Trading View)

* Daily Chart Observation

The price briefly fell back after hitting the daily resistance at 27 dollars.

Today has formed a bullish engulfing K line, indicating strong buying power.

Breaking through 30 USD may trigger short covering and accelerate the pump momentum.

Market Sentiment and Structural Advantages

For many years, LINK's performance has lagged behind other mainstream altcoins, but with the arrival of "altcoin season," funds are once again focusing on projects with practical use and infrastructure advantages.

Market sentiment: Volume and price are rising in tandem, indicating that capital is actively positioning.

Structural advantages: LINK's monopoly position in the oracle and cross-chain data fields makes it irreplaceable in DeFi, RWA, and cross-chain applications.

Potential Risks and Observation Points

Resistance failure risk: If it encounters resistance at 30 USD, it may retest the 25–26 USD support.

Macroeconomic market impact: The trends of Bitcoin and Ethereum will still affect the short-term volatility of LINK.

Catalyst Observation: Announcement of New Partners, CCIP Expansion, and Progress of Chainlink Reserve Increase

Conclusion

Chainlink is standing at the threshold of years of technical resistance, with 30 dollars being the key to determining the medium-term trend. If the breakout is successful, LINK is expected to start a new round of major pumps, targeting 38–40 dollars; if it faces resistance, it may enter a short-term consolidation. For traders, this is a crucial moment of high risk and high reward; for long-term investors, LINK's fundamental advantages and ecological position give it "dark horse" potential during the altcoin season.