Chainlink’s native token, $LINK, is performing great this week. As of today, it is trading around $22.4. It has remained at this point, which is a big support area, and this leads traders to believe it might be set to rise to $47 over the upcoming several weeks.

$47 could be next for Chainlink $LINK! https://t.co/N2QWDZNiIB pic.twitter.com/HNjRP9Kyp2

This trust is dictated by the strong technical performance and recent practical applications of $LINK, particularly through the collaboration with the international money-transfer company Swift.

Chainlink is well known for its decentralized oracle network, which connects smart contracts to external data. It has considered itself an interface between blockchain technology and conventional finance.

Analysts believe that the $20 level is an intriguing support. However, $LINK’s last week price stability prevented a larger fall in the market. Now there is resistance at $23. If $LINK increases the breakthrough at that level, it might begin a new positive trend.

Chart-wise, $LINK has been performing steadily better. The token has just stabilized above its 50-day EMA in the daily chart. Long-lasting price increases typically precede such momentum during a bullish trend. The crossover refers to sellers gaining control after a lack of buying during a break.

Daily RSI has increased to 50, up from 43 yesterday. That translates to a market that is not quite oversold yet and an indication of buying pressure. It remains below the overbought zone, and thus analysts like Ali are hoping that it might reach a high of $47. 

In the most recent post, Ali stated that Chainlink ($LINK) has been able to defend against the previous support of $20. These indicators come when Bitcoin and Ethereum are also stable, which gives well-known altcoins such as $LINK a nice boost.

Chainlink is also showing strength due to the fact that it has collaborated with Swift. Chainlink and Swift announced that they would begin a different live test with UBS Asset Management in late September 2025.

The Sibos conference launched the partnership, introducing tokenized funds on a blockchain for easier management.

The price of $LINK will likely depend on the overall trends in the crypto market and news regarding new adoption as Chainlink continues to expand.

In the meantime, the token remains heavily supported and has the new institutional support, and this provides some optimistic news.

The resistance traders will watch will be the price above the zone of $23; when the price rises higher, it may lead to a targeting price of $47 and attract more investors who have been waiting for the breakout. Chainlink’s consistent advancement in a market that is regularly based on hype is reminding investors that longevity in building real value can happen quietly.

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