- HashKey Group enhances their real-world asset adoption through implementation of Chainlink’s CCIP which gives them improved cross-chain abilities.
- The LINK price may reach between $22-$24 upon breaking out according to technical analysis although such a decline could pull it down to $10.50 to $11.00 levels.
- RSI at 38.64 along with a bearish MACD signal shows weak momentum yet a momentum reversal may occur if buying pressure grows stronger.
HashKey Group, a leading enterprise-grade Layer 2 (L2) network, has officially integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its core cross-chain infrastructure.
By leveraging Chainlink’s trusted and secure technology, HashKey is unlocking new possibilities for high-performance cross-chain applications.
This integration is set to accelerate the adoption of real-world assets (RWAs). Moreover with these adoption,LINK has faced a price surge in its price. Currently,Chainlink is trading at $13.07 with a price increase of 1.53% .LINK 24-hour trading volume is $429.25M with the market cap currently at $8.39B which is a 0.64% increase.
LINK Nears Breakout in Descending Wedge
Analyst Crypto Rand says that the $LINK clock is ticking with a final squeeze into the main falling wedge. The Chainlink (LINK) descending wedge pattern indicates that the asset is approaching a critical inflection point. The price reaches a major support zone at $13.00 that matches historical significant support points. The historically strong demand area located at this price level establishes it as a fundamental spot for market assessment by traders.
The descending wedge pattern suggests that a breakout could lead to a sharp price rally. The main resistance is at $14.50 followed by $16.00 and $18.00 which could trigger buying pressure from sellers.
A breakout success above these levels presents an opportunity for price to move up towards $22.00–$24.00 which corresponds to previous swing highs.A price drop beneath $12.50–$13.00 could signal additional market weakness leading LINK to move toward $10.50–$11.00 as a strong previous support level.
Technical Indicators Signal Bearish Pressure for LINK
The Chainlink (LINK) RSI is currently at 38.64 which indicates weak momentum and suggests that LINK is approaching oversold conditions. Additionally, the MACD line is below the signal line, confirming continued downward momentum. Current selling pressure receives further confirmation from the negative values shown in the MACD histogram.
A rise in buying momentum together with ascending RSI could push LINK toward resistance areas at $14.50 and $16.00. For now, LINK remains in a consolidation phase with bearish bias.
