Chainlink (LINK) Holds $23.71 as Major Partnerships Drive Mixed Price Action
The post Chainlink (LINK) Holds $23.71 as Major Partnerships Drive Mixed Price Action appeared on BitcoinEthereumNews.com. Luisa Crawford Aug 31, 2025 06:41 LINK trades at $23.71 (+1.11% daily) following US Department of Commerce partnership announcement, though technical indicators show mixed signals ahead. Quick Take • LINK currently trading at $23.71 (+1.11% in 24h) • Chainlink RSI at 52.74 suggests neutral momentum despite recent rally • US Department of Commerce partnership with Chainlink creates bullish fundamental backdrop What’s Driving Chainlink Price Today? The most significant development for Chainlink over the past week has been the partnership announcement with the US Department of Commerce on August 28th. This groundbreaking collaboration will see the department publish macroeconomic data on-chain using Chainlink and Pyth Network, marking a major step toward institutional blockchain adoption. LINK price initially responded positively to this news, building on momentum from the August 25th SBI Group partnership announcement. The Japanese financial giant’s collaboration with Chainlink focuses on tokenizing real estate assets and government bonds across the Asia-Pacific region, representing substantial long-term value for the ecosystem. However, despite these fundamentally positive developments, LINK price has shown mixed performance. The token experienced a notable 5% decline following the SBI partnership news, highlighting how even positive announcements can trigger profit-taking in the current market environment. The August 24th rally that saw LINK surge 12% appears to have been more closely tied to Federal Reserve Chair Jerome Powell’s dovish comments rather than Chainlink-specific catalysts. LINK Technical Analysis: Neutral Signals Emerge Chainlink’s RSI currently sits at 52.74, placing it firmly in neutral territory and suggesting neither overbought nor oversold conditions. This reading indicates that LINK price has room to move in either direction without immediately triggering momentum-based reversals. The MACD histogram shows a bearish reading of -0.4322, indicating that bullish momentum may be waning despite the recent positive news flow. Chainlink’s MACD line…
The post Chainlink (LINK) Holds $23.71 as Major Partnerships Drive Mixed Price Action appeared on BitcoinEthereumNews.com.
Luisa Crawford Aug 31, 2025 06:41 LINK trades at $23.71 (+1.11% daily) following US Department of Commerce partnership announcement, though technical indicators show mixed signals ahead. Quick Take • LINK currently trading at $23.71 (+1.11% in 24h) • Chainlink RSI at 52.74 suggests neutral momentum despite recent rally • US Department of Commerce partnership with Chainlink creates bullish fundamental backdrop What’s Driving Chainlink Price Today? The most significant development for Chainlink over the past week has been the partnership announcement with the US Department of Commerce on August 28th. This groundbreaking collaboration will see the department publish macroeconomic data on-chain using Chainlink and Pyth Network, marking a major step toward institutional blockchain adoption. LINK price initially responded positively to this news, building on momentum from the August 25th SBI Group partnership announcement. The Japanese financial giant’s collaboration with Chainlink focuses on tokenizing real estate assets and government bonds across the Asia-Pacific region, representing substantial long-term value for the ecosystem. However, despite these fundamentally positive developments, LINK price has shown mixed performance. The token experienced a notable 5% decline following the SBI partnership news, highlighting how even positive announcements can trigger profit-taking in the current market environment. The August 24th rally that saw LINK surge 12% appears to have been more closely tied to Federal Reserve Chair Jerome Powell’s dovish comments rather than Chainlink-specific catalysts. LINK Technical Analysis: Neutral Signals Emerge Chainlink’s RSI currently sits at 52.74, placing it firmly in neutral territory and suggesting neither overbought nor oversold conditions. This reading indicates that LINK price has room to move in either direction without immediately triggering momentum-based reversals. The MACD histogram shows a bearish reading of -0.4322, indicating that bullish momentum may be waning despite the recent positive news flow. Chainlink’s MACD line…
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