Chainlink Joins SEC Task Force as LINK Price Surges 15%

Chainlink, a prominent player in the cryptocurrency space, has recently joined the U.S. Securities and Exchange Commission's (SEC) Crypto Task Force. This strategic move is expected to enhance Chainlink's legitimacy within regulatory circles and bolster investor confidence. The inclusion of Chainlink in the task force, alongside four other crypto projects, underscores its growing influence on crypto policy shaping and infrastructure-level integration in U.S. financial systems. The task force aims to discuss standards for the compliant issuance and trading of tokenized assets at scale, a development that could significantly impact the broader crypto ecosystem.

This announcement comes at a time when the LINK price has shown renewed momentum, driven by a combination of institutional partnerships, favorable legislation, and positive technical indicators. The LINK token recently experienced a strong 15% intraday rally, lifting it to $19 and marking over 70% gains since late June. This surge in price is indicative of an important turning point for the Chainlink ecosystem, which has seen growing adoption by major financial institutions such as Westpac and Imperium Markets. The utility of Chainlink's technology is further reinforced by its strategic partnership with Mastercard, announced in early July, which has contributed to the recent strength in LINK price.

On the technical front, LINK price has reclaimed the 200-day Exponential Moving Average (EMA), with a golden cross now confirmed between the 20-day and 50-day EMAs. This bullish momentum is supported by a golden cross in the Moving Average Convergence Divergence (MACD) indicator, with the histogram reading 0.441. The Awesome Oscillator (AO) also supports the upside view, printing a value of 2.840, while the Chaikin Money Flow (CMF) rose to 0.19 from 0.03, signaling rising accumulation. However, the Relative Strength Index (RSI) shows overbought conditions at 80.16, raising the possibility of a temporary consolidation or pullback before LINK price resumes upward movement.

Technical chart patterns further add to the bullish narrative for Chainlink. The LINK price history suggests that its entire price action in the last couple of years occurred within a multi-year ascending broadening wedge. Its recent 25-day rally appears to stem from a bounce off the wedge’s lower boundary. If this pattern continues to play out, it could unlock upside levels above $28 and even approach $30. Prominent analyst Ali Martinez echoed this view, stating that LINK price is hovering just under the $18 resistance and a breakout could push it toward the $22–$28 range. However, downside risks remain. If LINK fails to sustain above $18, and the broader market turns bearish, the price could retrace toward $13 in a major correction. Still, current indicators suggest that the breakout above $19 may be imminent as market forces continue to favor LINK’s climb.