Chainlink (LINK) is drawing attention for its recent price movements. According to crypto media outlet CoinGape, the price of LINK has reached a potential turning point amid surging demand for Real World Asset (RWA) tokenization. Particularly, remarks by SEC Commissioner Paul Atkins — stating that “tokenization could make the U.S. the crypto capital of the world” — are sparking speculation that LINK could surge to $30 in the near future.
As of May 14 (local time), LINK was trading at $16.58, down 4% from the previous day. The broader crypto market experienced a downturn due to a spike in long position liquidations.
CoinGape reported that LINK is currently forming an “inverse head and shoulders” pattern on the daily chart — a classic technical indicator of trend reversal. The completion of this pattern signals a possible rally toward the $30 level.
LINK has already broken through the neckline resistance of the pattern and is now retesting it as a support level. If this support holds, a 45% rally to $23 is possible, with a further push to $30 within reach. Additionally, the ADX (Average Directional Index) is trending upward, suggesting that the bullish momentum could persist.
The report highlights that the SEC Commissioner’s comments are a central driver behind this bullish outlook. Speaking at a recent crypto roundtable, Paul Atkins emphasized the need for regulatory clarity on asset tokenization if the U.S. hopes to become the “crypto capital,” as former President Trump envisioned.
CoinGape added that Chainlink — currently the leading token in the RWA category by market cap — stands to benefit the most from such a regulatory shift.
Commissioner Atkins also suggested that the SEC needs to rethink its approach to regulating securities and crypto assets on the blockchain, in line with the pace of innovation.
The RWA token market itself is growing rapidly. According to CoinGape, it expanded from $47 billion to $61 billion last month, which could provide a solid foundation for further LINK price appreciation.
However, if LINK fails to hold the $16 support level, the bullish scenario may collapse. CoinGape warned that a drop below $16 could send LINK down to $10.
Still, with technical indicators, bullish comments from the SEC, and the expansion of the RWA market all aligning, analysts suggest Chainlink is well-positioned to attempt a breakout toward $30.
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