Chainlink LINK Eyes $20 Breakout as Regulatory Tailwinds Strengthen

Chainlink's price rally reflects growing regulatory Optimism and technical strength, with its Cross-Chain Interoperability Protocol (CCIP) highlighted in the White House's July 31 Digital Asset Report. The SEC's ETF eligibility update further boosts bullish momentum, positioning LINK for a potential breakout.

Trading above $18 with a 1.91% intraday gain, chainlink shows renewed trader interest, supported by $610 million in volume. Resistance sits near $19.03, aligned with the Bollinger Band upper boundary, while $17.64 serves as near-term support. A decisive push past $19.17 could pave the way to $20.22.

The RSI at 49.38 signals accumulating buyer interest, with LINK reclaiming key moving averages. Market structure favors bulls, provided the $17.64 support holds. Regulatory tailwinds and institutional adoption narratives continue to drive speculative interest in the oracle network.