Chainlink LINK Surges 19% to $17.13, Targets $20 Amid Institutional Adoption

Chainlink's LINK token has rallied 19% this week to $17.13, driven by Australia's PayTo integration through Project Acacia and strategic partnerships with SWIFT and Google Cloud. The upward momentum aligns with favorable U.S. cryptocurrency policy developments, though technical indicators suggest potential overbought conditions.

Daily charts reveal LINK testing a critical resistance zone between $17.50 and $18—a level that has historically seen rejections. A successful breakout could push prices toward $20, while failure may result in a pullback. The RSI at 75.82 indicates overbought territory, with expanding Bollinger Bands confirming increased volatility.

Trading volume ROSE 9% to $873 million as the token maintains support above its 20-day SMA at $14.46. Market participants are closely monitoring the $15.25 level as crucial near-term support.