LINK Price Nears Key Resistance as TradFi and DeFi Convergence Could Influence Future Trends
2025-07-17 16:03:38
Main Idea
LINK price is nearing a key resistance level at $18 amid growing convergence between traditional finance (TradFi) and decentralized finance (DeFi), with technical indicators and institutional adoption influencing its market movement.
Key Points
1. LINK has been trading between $10.94 and $18, with $18 acting as a critical resistance level; a breakout could target $25.06, while failure may lead to a retest of support at $14.85 (20-day EMA).
2. JPMorgan, Chainlink, and Ondo Finance conducted a crosschain Delivery versus Payment (DvP) test, highlighting institutional adoption and boosting confidence in Chainlink's oracle services.
3. Technical analysis shows the 20-day EMA (~$14.85) as key support; a drop below could extend range-bound trading, while holding above it maintains upward momentum.
4. A successful breakout above $18 could attract more buying interest, while sustained resistance may lead to a decline toward the 50-SMA (~$14.70).
5. The convergence of TradFi and DeFi, exemplified by JPMorgan's collaboration with Chainlink, reflects growing institutional confidence in blockchain solutions.
Description
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