Chainlink (LINK) is making strong breakthroughs by bringing TradFi and DeFi closer together.

At the RWA Summit Cannes, Ms. Nelli Zaltsman – head of the blockchain payment innovation department at JPMorgan Kinexys – emphasized that the gap between decentralized finance (DeFi) and traditional finance (TradFi) is rapidly closing. Recently, this "giant" in the banking industry has teamed up with Chainlink (LINK) and Ondo Finance (ONDO) to complete a pilot transaction of "Delivery versus Payment" (Delivery versus Payment – DvP) across chains. This experiment combines a licensed payment network and a public blockchain, marking a significant step towards integrating blockchain technology into the traditional financial system.

In light of this groundbreaking advancement, will the trend of major financial institutions shifting to on-chain become a driving force for LINK's price breakout? Let's analyze the technical chart to find the answer.

Price Prediction for LINK

Chainlink (LINK) has been trading sideways within a wide range, from $10.94 to $18, for the past few months.

LINK/USDT daily chart | Source: TradingViewThe LINK/USDT pair is currently approaching a strong resistance zone at $18 — a price level that is likely to attract strong selling pressure from bears. If the price reverses from the $18 level but finds support at the 20-day EMA at $14.85, it indicates a positive market sentiment. This scenario increases the likelihood that the price will break through the $18 resistance. If that happens, the double-bottom pattern will be completed, with a price target of $25.06.

Conversely, if the price drops sharply from the $18 range and breaks through the 20-day EMA line, it indicates that the trading trend within the range may continue for a few more days.

LINK/USDT 4-hour chart | Source: TradingViewOn the 4-hour timeframe, the 20-period EMA is acting as a solid "fortress" of defense for the bulls, having successfully thwarted several downward corrections. The continuous rebound from this support level indicates that buying pressure remains strong in each correction phase. If the LINK/USDT pair continues to recover from the 20 EMA, the likelihood of breaking through the upper resistance zone will be further reinforced.

However, this positive scenario will temporarily become ineffective if the price suddenly drops sharply and breaks through the 50-period SMA. In that case, selling pressure could push this pair back to the $14.70 level, or even deeper to the $14 area.

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