Chainlink (LINK) Price Prediction: Completed cross-chain "cash on delivery" test transaction, aiming for a strong breakout targeting $25.06.

Chainlink (LINK) has surged strongly, skyrocketing to $18.65 during the Asian early trading session today (18th). JPMorgan has recently collaborated with Chainlink to complete a test transaction of "Delivery versus Payment" (DvP), further bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi).

At the Cannes RWA Summit, Nelli Zaltsman, head of blockchain payment innovation at JPMorgan Kinexys, emphasized that the gap between Decentralized Finance and TradFi is rapidly narrowing. This banking giant recently collaborated with Chainlink and Ondo Finance (ONDO) to complete a cross-chain "cash on delivery" test transaction.

The test combines a permissioned payment network and a public chain, marking an important step in integrating blockchain technology into the traditional financial system.

This groundbreaking initiative, with large financial institutions venturing into on-chain trends, will it become the driving force behind the surge in LINK prices? Let's analyze the technical charts to find the answer.

LINK Price Analysis

In the past few months, LINK has been trading sideways within a wide range between $10.94 and $18.

The LINK/USDT currency pair is currently approaching a strong resistance level of 18 dollars—this level may attract strong selling from bears. If the price falls back from 18 dollars but finds support at the 20-day Exponential Moving Average (EMA) at 14.85 dollars, it indicates that market sentiment is optimistic.

This situation increases the likelihood of breaking through $18. If this happens, the double bottom pattern will be completed, with a target price of $25.06.

On the contrary, if the price sharply drops from the $18 area and falls below the 20-day EMA, it indicates that the range trading trend may continue for several days.

(Source: Trading View)

In the 4-hour time frame, the 20-period EMA acted as a solid defense "fortress" for the bulls, successfully preventing multiple downward corrections.

The price continues to rebound from this support level, indicating that the buying power remains strong during each correction. If the LINK/USDT pair continues to rebound from the 20-week EMA, the possibility of breaking through the upper resistance zone will further increase.

However, if the price unexpectedly drops significantly and falls below the 50-period moving average, this bullish scenario will temporarily be invalidated. In this case, selling pressure may drag the currency pair back to $14.70, or even down to the $14 region.

(Source: Trading View)