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The Chainlink price is up 31% over the past week despite dropping 2% in the last 24 hours to trade at $21.76 as of 5:50 a.m. EST on trading volume that dipped 15% to $1.36 billion.
The LINK price has been growing steadily over the last five days, starting around the same time when Bitcoin started its own attempts at recovery. However, while BTC was recovering in several sharp surges, Chainlink saw a fairly steady increase until it reached a major resistance that has been holding it from progressing further.
We're excited to announce the launch of the Chainlink Reserve, a new upgrade centered on the creation of a strategic onchain reserve of LINK tokens.https://t.co/ENs52Qjnn2
The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink… pic.twitter.com/vUElyovvYs
— Chainlink (@chainlink) August 7, 2025
Its growth likely started due to the announcement of the launch of the Chainlink Reserve — a new upgrade centered around the creation of a strategic on-chain reserve of LINK tokens, which came on Aug. 7, the same day as Chainlink started to surge.
Chainlink Price Prediction
Prior to Aug. 7, LINK was trading mostly flat, seeing smaller fluctuations between $16 and $17. However, the announcement of the Chainlink Reserve started a price surge that took the coin up to $22 over the next three days.
Unfortunately, the coin failed to breach this level, seeing several minor rejections, the latest of which is actually happening right now. LINK has dropped 2% in the past 24 hours as a result, with its price currently sitting at $21.7.
The decline is also pushing its lower Bollinger Band further down, causing the bands to expand. However, a trend reversal is expected at around $21.5.
LINK/USDT chart analysis (Source: TradingView)
The project’s Relative Strength Index (RSI) value indicates that the LINK price could soon see a recovery from its current daily decline. After fluctuating between 40 and 60 in the last 15 hours, the RSI suddenly started to decline toward the oversold zone, suggesting that traders were taking profits, not expecting the price to breach the resistance at $22.
However, now that the RSI has reached the oversold zone, buyers could swoop in to buy the dip, pumping the coin’s price back up. Furthermore, if they push the RSI to the overbought zone or beyond, the resistance at $22 is likely to break, allowing Chainlink to soar higher.
Promising Alternative To Chainlink
With Chainlink’s price currently still dropping, opportunity seekers started buying TOKEN6900 (T6900). This is a new meme coin, currently still in presale, which was inspired by another project called SPX6900.
Apart from being its inspiration, SPX6900 is also its biggest rival, which TOKEN6900 plans to surpass in the market. Like its rival, the token praises and glorifies the most popular number in the meme culture, 69. However, beyond that, it has no utilities, nor plans to introduce some later down the line.
In fact, the project claims that it has no plans for the future at all, and what investors see right now is what they will get. In other words, it aims to be a true meme coin, offering no utilities, products, or services — only fun for those who appreciate its humor.
breathe in. buy token6900. breathe out. pic.twitter.com/UY5AWyKiFY
— Token6900 (@Token_6900) August 7, 2025
It has set up a hard cap of $5 million, and its token emerged with a starting price of $0.006400. Its value has since been growing whenever its ICO entered a new stage, placing it at $0.006925 at the time of writing.
Meanwhile, investors developed a strong interest in it, pouring over $1.8 million into its presale already. Even experts like ClayBro, a crypto YouTuber with over 136k subscribers, speculated that TOKEN6900 could have at least 10x potential.
If you wish to join other early buyers, join the presale now, before the next presale price hike in around 39 hours.
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