Chainlink (LINK) Price Rise Stretched the Wider Altcoin Market

The gradual Bitcoin (BTC) price rise in the past few weeks, has significantly influenced the wider altcoin market led by Chainlink (LINK).

The gradual Bitcoin (BTC) price rise in the past few weeks, has significantly influenced the wider altcoin market led by Chainlink (LINK). The highly anticipated crypto summer of 2025 has seen the overall capital inflow to the altcoin market experience a sharp uptick.

Moreover, an imminent reversal and fall of Bitcoin dominance in the coming months will trigger a sustained altseason, fueled by FOMO traders.

Chainlink Network Growth Outlook

The Chainlink network has received significant adoption in the past few months amid the mainstream adoption of digital assets and web3 protocols. Furthermore, the Chainlink network enables DeFi protocols to provide reliable services in an interoperable ecosystem.

Earlier this week, the Chainlink network announced a strategic integration with the Solana (SOL) network to enable its DeFi ecosystem to access Chainlink’s CCIP infrastructure. On Tuesday, several DeFi protocols announced a strategic integration with the Chainlink network to access its CCIP infrastructure. Some of the notable integrations include Zeus Network, Liquity Protocol, and Shift RWA.

The continued adoption of the Chainlink products by institutional investors has bolstered the LINK token, which is used to reward node operators and data providers.

Midterm Targets for LINK Price

The large-cap altcoin, with a fully diluted valuation of about $15.7 billion and a 24-hour average traded volume of about $604 million, has been attempting to recover from last week’s 10 per decline. In the daily timeframe, LINK price has established a rising trend since April 9, characterized by higher highs and higher lows. Moreover, the LINK price has already broken out and retested a falling wedge pattern established in the first quarter of 2025.

In the four-hour timeframe, LINK price has formed an inverse head and shoulders pattern, coupled with a rising divergence of the Relative Strength Index (RSI). As a result, LINK price is well positioned to rally towards the next short term target around $19.8.