- LINK holds $14.60 support as traders watch for breakout above the descending trendline at $17.20.
- Technical signals show bullish momentum with RSI rising and 20-day EMA crossing above 50-day EMA.
- Chainlink leads RWA development with top GitHub activity, supporting long-term network confidence.
Chainlink (LINK) is currently trading around $14.99, following a short-term pullback from its recent highs above $16.00. The altcoin continues to attract attention due to increasing RWA activity, consistent developer contributions, and a strong technical structure. Analysts are closely monitoring the $14.60 level, which remains a key support zone.
Chainlink Eyes Recovery as Support Holds
According to analysis prepared by World of Charts on X, LINK is nearing the upper boundary of a descending trendline. The recent price action has formed higher lows since April, suggesting underlying strength despite market volatility. A close above $17.20 could trigger a move toward $19.50 in the near term.
Technical indicators remain supportive of bullish momentum. The RSI is currently trending upward, while the MACD continues to show positive divergence. The 20-day EMA has also moved above the 50-day EMA. These signals suggest that LINK is positioned for a breakout if price holds the current range.
Network Growth Adds Confidence to LINK Outlook
Chainlink continues to lead in RWA-related development. According to Santiment, it has seen more GitHub commits in the last 30 days than competing platforms like Avalanche and IOTA. This growth is driven by key upgrades such as the Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve.
These upgrades are key to Chainlink’s integration with tokenized financial systems. The network’s role in providing secure oracle data continues to expand, especially as traditional institutions explore blockchain-based products.
As long as LINK price remains above $14.60, traders view this zone as a strong accumulation area. If buyers regain control, the next major resistance levels stand at $17.20, $19.50, and $22.00. A close above those levels may shift LINK into a stronger uptrend heading into June.
