Chainlink Price Climbs on Mastercard Deal, But Can It Sustain Momentum?

Chainlink has caught the market’s attention after the news around a strategic partnership with Mastercard that enables over 3 billion cardholders to purchase cryptocurrencies directly on-chain. The integration allows users to convert fiat to crypto seamlessly, with Chainlink’s technology verifying and synchronizing critical transaction data. 

The news sparked a strong rally in Chainlink price, resulting in a double-digit percentage spike as optimism surged around real-world adoption. However, after a promising surge, the momentum appears to be stalling just below a key resistance zone. Let us analyze what the technicals suggest for LINK’s next move.

Chainlink Price Analysis:

As of press time, LINK is trading around $13.30, with a +1.35% daily gain and a $9 billion market cap. Despite this strength, the 24-hour trading volume has fallen by 7.18% to $532.35 million. It is worth noting that the asset traded between $12.97 and $13.72 in the last 24 hours.

The RSI at 63.28 is in bullish territory but approaching overbought levels, hinting at possible consolidation or retracement. LINK is hovering close to its immediate support at $13.30, a level LINK must hold to avoid downside pressure. A breach below this level could expose it to deeper corrections, targeting $12.80, failing which, it could plummet to $11.

On the upside, a confirmed breakout above $13.73, followed by a push past $14.15, would invalidate the bearish bias and open the door to further gains. Until then, the bearish setup remains in play, with a short-entry zone between $13.35 and $13.40, and a stop-loss at $13.86 to manage risk.

Also read our Chainlink Price Prediction 2025, 2026-2030!

FAQs

Why did Chainlink price spike recently?

Chainlink surged following its partnership with Mastercard, which enabled on-chain crypto purchases using fiat, showcasing its real-world adoption potential.

Is LINK currently in a bullish or bearish trend?

LINK faces short-term bearish pressure after rejection at $13.73, though macro fundamentals remain positive.

What are the key levels to watch for traders?

While the support is at $13.30, resistance lies at $13.73 and $14.15, respectively.