Chainlink LINK Rally on Fed Dovishness, Buybacks & Demand
Chainlink’s LINK has advanced sharply over recent weeks. In mid-June, the token climbed 8.3% above $26, driven by strong institutional demand and Chainlink Reserve’s buyback of 109,664 LINK (≈$2.8M). It broke resistance at $24.50 and $25.20, establishing support at $23.50–$23.60. Co-founder Sergey Nazarov also met US Senator Tim Scott to discuss easing regulatory constraints.
More recently, LINK surged 12% to $27.8, its highest since December, after Fed Chair Jerome Powell’s dovish comments fuelled a broader crypto rally. Deloitte’s ISO 27001 and SOC 2 Type 1 certifications for Chainlink’s oracle and Cross-Chain Interoperability Protocol further boosted confidence. Institutional buying pushed LINK past $25.00, $25.50 and $26.00, while a strategic 41,000-token buyback added support. Trading volume spiked fivefold to 12.84 million LINK. Traders now eye further upside, with solid support near $24.15.
Bullish
The combined factors of strong institutional demand, strategic token buybacks and regulatory discussions initially propelled LINK above key resistance levels, triggering technical breakouts. The subsequent dovish shift by the Fed amplified a broader crypto rally, further supporting LINK’s rise to $27.8. Additionally, ISO 27001 and SOC 2 Type 1 certifications by Deloitte enhance network credibility and long-term use cases. In the short term, elevated trading volume and broken resistance zones suggest momentum may persist, as traders target new highs. Over the longer term, sustained institutional interest, protocol certifications and potential easing of US regulations underpin a bullish outlook, strengthening LINK’s support levels and market stability.