At the RWA Summit Cannes, Ms. Nelli Zaltsman – head of blockchain payment innovation at JPMorgan Kinexys – emphasized that the gap between decentralized finance (DeFi) and traditional finance (TradFi) is rapidly narrowing. Recently, this banking giant partnered with Chainlink (LINK) and Ondo Finance (ONDO) to complete a trial transaction of 'Delivery versus Payment' (DvP) across chains. This experiment combines a licensed payment network with a public blockchain, marking an important step in integrating blockchain technology into the traditional financial system.
Before this breakthrough, will the trend of major financial institutions moving on-chain become a driving force for LINK's price breakout? Let's analyze the technical chart to find the answer.
LINK Price Prediction
Chainlink (LINK) has traded sideways within a wide range, from $10.94 to $18, for the past few months.
The LINK/USDT pair is currently approaching a strong resistance zone at $18 — a price level that is likely to attract strong selling pressure from bears. If the price turns down from the $18 mark but finds support at the 20-day Exponential Moving Average (EMA) at $14.85, it indicates that market sentiment is positive. This scenario increases the likelihood that the price will break through the $18 threshold. If that happens, the double-bottom pattern will be completed, with a price target of $25.06.
Conversely, if the price sharply declines from the $18 zone and breaks through the 20-day EMA, it indicates that the trading range trend may continue for a few more days.
On the 4-hour timeframe, the 20-period EMA is acting as a solid defensive 'fortress' for bulls, successfully preventing several downward corrections. The continuous bounce from this support level indicates that buying pressure remains strong in every pullback. If the LINK/USDT pair continues to recover from the 20 EMA, the likelihood of breaking through the upper resistance zone will be further strengthened.
However, this positive scenario will temporarily become invalid if the price suddenly drops sharply and breaks through the 50-period Simple Moving Average (SMA). In that case, selling pressure could push this pair back to the $14.70 level, or even deeper to the $14 zone.