Chainlink's LINK Surges 13% as Mastercard Partnership Fuels Rally Amid Crypto Recovery

Interoperability platform and oracle provider Chainlink's native token LINK demonstrated remarkable strength on Tuesday, climbing more than 13% over 24 hours to a $13.51 high.

Easing tensions in the Middle East with a ceasefire between Israel and Iran already spurred a broad crypto market recovery, with 98 of the top 100 tokens posting gains and bitcoin BTC rebounding to $106,000.

Still, LINK vastly outperformed bitcoin's 2.8% and the broad-market benchmark CoinDesk 20 Index's 5% advances.

The token's bullish action comes as Chainlink announced earlier during the day a partnership with global payments operator Mastercard to enable over 3 billion card holders to purchase cryptocurrencies directly on-chain.

Read more: Chainlink, Mastercard Tie-Up to Let Nearly 3B Cardholders Buy Crypto On-Chain

Technical Analysis

• LINK formed a clear uptrend with higher lows and higher highs, breaking through key resistance at $12.50 on substantial volume.
• Strong support established at $12.85-$13.00, confirmed by multiple tests with above-average volume.
• Momentum indicators suggest continued bullish sentiment with potential for further upside.
• Traders should monitor the $13.30-$13.35 resistance zone where recent profit-taking occurred.