Chainlink Surges 10.36% Weekly, Breaks Key Resistance at $15.30

Chainlink (LINK) has recently shown significant momentum, with a daily increase of +0.82% and a weekly rally of +10.36%. This upward trend follows an extended corrective phase, suggesting a potential trend reversal. Technically, LINK has rebounded from the $13.58 support zone and broken above the $15.30–$15.50 resistance area, reclaiming bullish territory. Analysts are targeting $17.50 and $19.00 if the bullish momentum continues, particularly if Bitcoin remains strong and market risk appetite improves. Momentum indicators are flashing bullish, and the daily MACD shows positive divergence, suggesting more upside could be on the horizon.

Fundamentally, Chainlink continues to be a cornerstone of the decentralized oracle space. Recent developments, such as a new partnership with GlobalSyncFdn and rising usage in real-world asset tokenization, are reinforcing LINK’s long-term value proposition. Additionally, strong accumulation in the $14–$15 range could act as a springboard for the next leg up.

Chainlink has also made significant strides in GitHub developer activity, ranking second, while Ethereum placed eighth. These rankings are based on the frequency and volume of code contributions, not asset price or user count. High developer activity often signals continued protocol maintenance and upgrades. Chainlink's co-founder, Sergey Nazarov, highlighted that Chainlink meets three common institutional demands: reliable data inputs, compatibility across chains, and compliance standards for smart contracts. This was in response to a Visa report that examined the use of blockchain for institutional settlement.

Chainlink enabled a cross-border transfer between a digital Hong Kong dollar and an Australian dollar stablecoin using the Cross-Chain Interoperability Protocol (CCIP). This protocol allows for data exchange and execution between blockchains and traditional financial networks. The e-HKD trial included input from Visa, ANZ, Fidelity International, and China AMC, pointing to increased institutional testing of blockchain infrastructure for regulated payments and settlements. However, real-world use will depend on sustained cooperation among developers, regulators, and financial entities.