Chainlink LINK Surges 19% Toward $20 as Institutional Adoption Grows
Chainlink's LINK token jumped 19% this week to $17.13, driven by Australia's PayTo integration through Project Acacia and key partnerships with SWIFT and Google Cloud. The price rally aligns with favorable U.S. cryptocurrency policy developments.
Technical indicators suggest caution as LINK approaches a historically strong resistance zone between $17.50 and $18. The RSI reading of 75.82 indicates overbought conditions, while expanding Bollinger Bands point to increased volatility. Daily trading volume ROSE 9% to $873 million, with the 20-day SMA at $14.46 acting as dynamic support.
Traders are now watching for either a breakout toward $20 or a pullback from current levels. The outcome may depend on continued institutional adoption versus broader macroeconomic challenges.
