Chainlink Launches Real-Time Data – Will LINK Price Hit $17.64 Next?

Chainlink has made a game-changing leap into real-world asset tokenization with its latest innovation, which is real-time data streams for U.S. equities and ETFs. These streams bring sub-second, context-rich pricing for key assets such as AAPL and SPY directly onchain. Already integrated by platforms like GMX and Kamino, this move positions Chainlink as the infrastructure layer for institutional-grade DeFi. But does this innovation reflect in LINK’s price? Let’s dive into the charts and recent metrics to find out.

LINK Price Analysis:

At the time of writing, LINK is changing hands at $16.49, while being down -6.91% over the past 7 days. However, it is worth noting that the price bounced off a key support zone at $15.83. This suggests that buyers are stepping in after last week’s sell-off.

Speaking from a technical perspective, LINK recently saw a bearish MACD divergence, indicating exhaustion after July’s strong 21% rally. This was followed by a classic rejection at the upper Bollinger Band and the 20-day SMA, which is currently near $17.76.

Looking ahead, $17.64 is the immediate resistance for Chainlink price. A break above this level could initiate a move towards the next major resistance at $20.22. Traders need to note that it is a level where heavy profit-taking was previously seen. Conversely, failure to hold above $15.83 could drag the price down to the $12 zone. 

Talking about RSI, it stands at 47.95, indicating neutral momentum but with a slight upward curve, hinting at a potential recovery if volumes confirm. However, 24-hour trading volume dropped by -13.81%, now this is a sign that the recent rebound may lack strong conviction.

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