Chainlink (LINK) Token Tests Key Technical Levels, Analysts Eye Potential Surge to $13

Chainlink (LINK) is currently testing significant technical levels, showing a promising upward trend. After surpassing the 50-day simple moving average (SMA) at $10.91, LINK now approaches a major resistance at the 200-day SMA of $14.97.

Cryptocurrency prices today have seen Chainlink (LINK) continue consolidating within a narrower range, as analysts now predict a potential surge to $13.

Chainlink price today is trading at $11.79, down 5.49% in the past 24 hours, but up by 5% over the past week. The LINK token price now trades close to a key resistance level, with its performance lagging behind other top cryptocurrencies.

Chainlink (LINK) price is now testing crucial technical levels, with promising upward movement. After crossing the 50-day simple moving average (SMA) at $10.91, LINK now approaches a major resistance at the 200-day SMA of $14.97. Breaking above this level could signal a sustained bullish phase, while failure might lead to a retest of lower supports.

Chainlink (LINK) price is currently facing resistance at the 200-day simple moving average (SMA), which could be a crucial factor in determining its short-term price direction. After crossing the 50-day SMA on September 22, LINK encountered resistance at the 200-day SMA several times.

Now, approaching this level once again, a breakout could lead to a potential surge towards $13, as predicted by several analysts. However, if LINK fails to break through this resistance, it could indicate a retest of lower support levels.

According to crypto analyst PostyXBT, Chainlink could soon reach $13, based on current market trends and technical signals.

Another analyst, Tradingjip, also projects a possible rise to $13.80 in the upcoming weeks. This projection is supported by the token’s 14-day relative strength index (RSI) remaining above 50, indicating bullish momentum, and a favorable volume-weighted moving average (VWMA), further suggesting sustained upward movement.

Pseudonymous analyst Michael van de Poppe expects the LINK value to increase by 150-300% against Bitcoin (BTC). He pays much attention to $21 as a crucial level of resistance. Exceeding this could take LINK to higher levels of prices to as high as $25 and $30.

Chainlink Partners with ANZ Bank for Cross-Chain Tokenization

In other news, decentralized oracle platform Chainlink has partnered with ANZ Bank, one of Australia’s largest banks, for the tokenization of real-world assets (RWAs) within the framework of the Monetary Authority of Singapore’s Project Guardian. With more than A$1 trillion in assets under management, ANZ will be utilizing Chainlink’s cross-chain interoperability protocol (CCIP) to facilitate secure tokenization, trading, and settlement.

This partnership will enable ANZ to explore interoperability between private blockchains, facilitating the exchange of tokenized RWAs, such as commercial paper, in collaboration with Singapore-based investment firm ADDX. ANZ’s Banking Services Lead, Angel Dobson, highlighted the fragmentation of tokenized asset markets and the aim to enhance liquidity and efficiency in financial markets, with Chainlink enabling cross-chain asset exchanges.

Chainlink (LINK) price today has seen the token consolidate within a narrower range, with analysts now predicting a potential breakout to $13.

Chainlink price today is trading at $11.79, down by 5.49% in the past 24 hours, but up by 5% over the past week. The LINK token price now trades close to a key resistance level, with its performance lagging behind other top cryptocurrencies.

Chainlink (LINK) price is now testing crucial technical levels, with promising upward movement. After crossing the 50-day simple moving average (SMA) at $10.91, LINK now approaches a major resistance at the 200-day SMA of $14.97. Breaking above this level could signal a sustained bullish phase, while failure might lead to a retest of lower supports.

Chainlink (LINK) price is currently facing resistance at the 200-day simple moving average (SMA), which could be a crucial factor in determining its short-term price direction. After crossing the 50-day SMA on September 22, LINK encountered resistance at the 200-day SMA several times.

Now, approaching this level once again, a breakout could lead to a potential surge towards $13, as predicted by several analysts. However, if LINK fails to break through this resistance, it could indicate a retest of lower support levels.

According to crypto analyst PostyXBT, Chainlink could soon reach $13, based on current market trends and technical signals.

Another analyst, Tradingjip, also projects a possible rise to $13.80 in the upcoming weeks. This projection is supported by