Chainlink (LINK) is trading around $8.68, positioned at the lower boundary of a falling wedge pattern that analysts suggest could lead to a bullish breakout. Technical indicators show growing momentum, with the RSI at 58.37 and a bullish MACD crossover. The cryptocurrency faces immediate resistance between $9 and $9.20, with potential breakout targets identified at $14.60 and $19.00. Separately, the Compound Foundation announced it is integrating Chainlink into its upcoming v4 protocol to enhance institutional-grade pricing and risk controls.
Chainlink (LINK) is trading near $8.68, resting at the bottom of a falling wedge formation noted on its daily chart. According to one crypto analyst, such prolonged consolidation often precedes strong price breakouts.
The first major bullish signal would be a clean break above $14.60, potentially unlocking further upside toward $19.00. Traders and investors are closely monitoring LINK, anticipating a breakout could mark the start of a new upward trend.
Technical indicators are signaling a cautious bullish sentiment. The RSI at 58.37 is building steam without being overbought, leaving room for further increases.
Additionally, the MACD line is moving above the signal line, indicating a short-term bullish reversal. Buying pressure appears to be building to test the $9.00–$9.20 resistance level, though a pullback remains possible.
Separately, the Compound Foundation announced it is integrating Chainlink into Compound v4. In a statement, the foundation said Chainlink has been powering lending markets on Compound for more than four years.
Chainlink’s Data Feeds and Smart Value Recapture mechanisms will support pricing verification and risk controls. This integration aims to securely support complex assets like tokenized treasuries and equities in the new protocol.
