Chainlink (LINK) Price Eyes Breakout: Key Support Holds, $19.77 in Sight?

Chainlink (LINK) price is gaining attention in the crypto market as traders and analysts focus on its key support zone. The asset has seen renewed buying pressure after a 30% rise in the past month, driven by partnerships and growing interest in blockchain infrastructure. Analysts are watching closely to see if LINK can hold current levels and push toward the $19.77 resistance target.

Chainlink Price Technical Setup: Holding Support and Seeking Continuation

Michael van de Poppe, a crypto analyst, stated that LINK has shown a “first slight solid bounce.” He believes that the asset is forming a higher low, which could support further upside. “It would be great if LINK held this first level of support,” he said, referring to the range between $14 and $15. He added that strong buying at this level may confirm a continued uptrend.

Van de Poppe explained that Chainlink (LINK) price is in a potential cycle shift, and he considers the $14 area to be the next key level. He expects a continuation of upward momentum if this support holds. “We’re seeking a higher low for continuation,” he mentioned, pointing to the importance of short-term stability.

The support zone has now become a crucial area for LINK. Van de Poppe emphasized that this is the point where traders are looking for confirmation. He believes that if this structure remains intact, LINK could begin its next phase of growth. The focus remains on whether bulls can maintain the current momentum.

Institutional Interest and Blockchain Integration

Chainlink (LINK) has gained market attention due to its role in a recent collaboration between JPMorgan and blockchain infrastructure firms.

Earlier this week, JPMorgan executed a tokenized security transaction using Chainlink’s interoperability protocol. This marks one of the first times a major bank conducted such a transaction on a public blockchain.

The transaction was completed on the Ondo Finance platform and used Chainlink’s technology to link traditional finance systems to blockchain networks. As per reports, this development indicates that Chainlink is positioning itself as a bridge between established banks and decentralized finance infrastructure. The project is expected to benefit as more financial institutions explore tokenization.

According to CoinMarketCap, LINK’s value jumped 30% over the last 30 days following the JPMorgan announcement. Analysts believe that tokenization will become a key driver of blockchain use cases. Chainlink’s role in this space could make it central to similar projects moving forward.

Moreover, Bank of America is also exploring digital assets, reportedly working on its own stablecoin. These moves by traditional finance companies suggest that blockchain adoption is increasing. With partnerships already underway, Chainlink may continue to benefit from the industry’s growing interest in public blockchain transactions and asset tokenization.

Chainlink Price Action and Key Levels to Watch

Analyst CRYPTOWZRD recently examined LINK’s price behavior, noting that the daily close showed indecision. Despite a slow movement, he believes a breakout may follow. He mentioned $15.85 as an intraday level to watch for reversal signals. A move above $16.80 could signal a stronger uptrend, giving traders more confidence.

He also emphasized that a breakout above $19.50 could push Chainlink (LINK) toward the next resistance level near $30. However, he stated that continued buying pressure is necessary. “We need to see a clear move and healthy price structure,” he said, explaining what’s needed for the trend to hold. If the market confirms strength above $16.80, buyers may begin to gain control.

CRYPTOWZRD found that improvements in LINKBTC’s performance are more likely as long as Bitcoin continues to gain presence in the market. He stated that how the Bitcoin market performs tends to affect altcoin performance. A rise in LINKBTC can help propel LINK’s USD pair upwards as well.

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