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Chainlink on course for growth: Partners promote price increase to $23!
Chainlink (LINK) hits $17.83 as partnerships with major firms bolster bullish price forecast.
Chainlink on course for growth: Partners promote price increase to $23!
As of October 29, 2025, Chainlink (LINK) price is around $17.83. Despite the positive market sentiment, the price was rejected at a key resistance area earlier in the week. To enable a price rally, it is crucial that LINK closes above $19.67. A number of significant partnerships show that Chainlink's adoption in the industry is growing.
The newly acquired partners include well-known companies such as Streamex, Arc, Virtune, ANZ, China AMC and Fidelity International. Streamex Corp. has selected Chainlink as its official oracle provider and plans to launch GLDY, a gold-backed stablecoin developed as a Cross-Chain Token (CCT) using the Chainlink Cross-Chain Interoperability Protocol (CCIP). To verify GLDY's gold reserves in real time, Chainlink Proof of Reserve is integrated, while Chainlink Price Feeds provide market data for the gold markets.
Partnerships and integration
In addition to Streamex, Chainlink has been selected as a core ecosystem partner for Arc, a new Layer 1 blockchain from Circle. Arc will integrate Chainlink CCIP, Data Feeds, Data Streams and the Automated Compliance Engine (ACE), which should significantly expand the functionality of the platform. Virtune has also integrated Chainlink's verifiable data standard into their digital asset ETPs, resulting in improved data integrity.
There was also a significant development with the Hong Kong Monetary Authority (HKMA) releasing a report on its e-HKD program. This program includes a cross-chain solution using Chainlink in collaboration with ANZ, China AMC and Fidelity International. This solution leverages Chainlink CCIP and ACE to ensure interoperability and compliance for cross-border transactions.
Market analysis and price forecasts
Recent market analysis shows a bullish bias for Chainlink, with a long-to-short ratio of 1.06, indicating that more traders are expecting a price rally. Nevertheless, Chainlink recently faced a decline against the 200-day Exponential Moving Average (EMA) at $18.90, resulting in a decline of almost 4%. Currently, support is around $17.68, the 61.8% Fibonacci retracement level.
If this support holds and LINK closes above $19.67, the price could rise towards $23.81. The Relative Strength Index (RSI) is currently at 43, indicating weakening bearish momentum, while the Moving Average Convergence Divergence (MACD) showed a bullish crossover last week. However, if LINK closes below $17.68, a decline to the $15.07 support level could follow.
Overall, both the current market conditions and the strong partnerships that Chainlink has formed paint an optimistic picture for the future of the cryptocurrency. Significant demand and trust from established financial players could further influence the price.