LINK Strengthens on Technical Breakout and Institutional Adoption News
Chainlink (LINK) is trading around $23.60, showing resilience after nearly doubling in value since early 2025. The asset has managed to consolidate above the $23 support zone, while technical indicators point to a possible continuation toward the $26–$28 resistance range.
The daily LINK/USDT chart highlights a strong recovery from April’s lows, when the token traded near $12–$14. Following a clear breakout from a prolonged descending channel, Chainlink has since reclaimed multiple key support levels.
Currently, LINK is holding above the green support band near $23, a zone that has flipped from resistance earlier in the year. If bulls maintain momentum, the next hurdle lies in the upper resistance zone between $26 and $28. On the downside, losing the $20 support could expose a retest of the brown support block near $16.50.
Chainlink’s rally coincides with a significant industry milestone: DigiFT and UBS Asset Management recently launched a fund tokenization pilot in Hong Kong, highlighting growing institutional interest in blockchain infrastructure.
Analysts suggest this development strengthens Chainlink’s role in providing secure and reliable oracle services for tokenized assets. According to BITX market experts, “As tokenization becomes a key theme in global finance, Chainlink remains well-positioned as the infrastructure connecting real-world assets with blockchain networks.”
BITX strategist added, “The technical structure is supportive of further gains, provided LINK can hold above $23. The news of institutional adoption adds a fundamental layer to the bullish case.”
With momentum on its side, Chainlink’s short-term trajectory depends on whether bulls can push through the $26–$28 ceiling. A successful breakout could pave the way for a run toward the $30 psychological level, while failure to hold $23 may bring consolidation back toward the mid-$20s.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.