Chainlink Eyes Move Toward $20 After SEC Approval Signals Bullish Trend: What’s Next for LINK Price?

Chainlink has started this year on a bullish note as the SEC finally approved the Bitwise Chainlink ETF, allowing it to enter US equity markets. As a result, whales have been consistently withdrawing LINK from exchanges over the last few days, hinting at a quiet accumulation ahead of a breakout. Additionally, several on-chain metrics have turned positive, which might trigger a 50% surge on the LINK price chart.

LINK OI

LINK/USDT Chart

Though Chainlink is declining in recent hours, it is holding above the 20-day EMA around $13.28, while the 50-day and 100-day EMAs remain overhead, acting as resistance near the $13.6–$13.8 zone.

The RSI has declined sharply and is currently hovering below the midline at level 46, showing bearish momentum with strong pressure from sellers. A sustained move above the descending resistance line could open the door for a push toward higher levels. On the upside, LINK price might head toward $20 before facing any significant selling pressure.

However, if LINK slips below the 20-day EMA, the price may retest lower support areas near $13. Overall, the trend is bullish and slightly improving as buyers accumulate around the dip.

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