- Chainlink network is being held up like a drunk man at a party, thanks to growing fundamentals and a nice, shiny regulatory outlook in the United States.
- LINK bulls need to put on their best “defend the fort” faces and hold the support level above $9.4 if they don’t want to see 2025 go up in flames.
Chainlink (LINK) has been stuck in a falling channel for what seems like a century, ever since the second term of President Trump was announced (no, really). The big-time altcoin, with a market cap of about $12.66 billion and trading a hefty $291 million worth daily, has dropped a painful 44% in the past three months, leaving it hanging at $12.65—right around the time the U.S. folks are sipping coffee and haggling over stock trades in the mid-North American hours. If you’re holding this bag, good luck!
The Chainlink Ecosystem: It’s Growing Faster Than a Weed in a Garden
The Chainlink network is looking more like an all-you-can-eat buffet for institutional investors these days, with partnerships cropping up like weeds. The likes of Coinbase, Apex Group, and Paxos are all working with Chainlink to tokenize real-world assets (because, apparently, that’s a thing now).
Just this Thursday, Chainlink made a new buddy in the form of Cap Money, a decentralized stablecoin protocol that’ll help power its cUSD on the Ethereum network using Chainlink Price feeds. Well, aren’t they just getting all cozy together?
“Backed by fully collateralized and restaked assets, cUSD uses Chainlink to provide stronger assurances that stablecoin minting and delegation mechanisms operate securely under volatile market conditions,” the announcement proudly proclaimed, as if anyone could understand half of that.
As Chainlink’s ecosystem grows, it’s also getting some sunshine from a friendlier regulatory outlook, especially in the good ol’ U.S. of A. Oh, and just to add a cherry on top, the latest SEC documents reveal that the Chainlink crew has been playing nice with the agency’s crypto task force, meeting them twice last month. Aren’t they just the picture of cooperation?
LINK Price Analysis: Don’t Get Too Comfortable, But Don’t Panic Either
So, here’s the deal. LINK price is giving off some bullish vibes lately, thanks to whale investors (those big-time players who are too important to notice us peons) and improving network fundamentals. In the daily timeframe, it’s looking like a falling wedge is forming, which—wait for it—could lead to a major bullish explosion. No pressure.
Source
But hold on to your horses, because if the global trade wars continue to make everyone nervous and the crypto bulls don’t show up, LINK might just head back to test that trusty support/resistance level around $9.4. But, on the bright side, it’s probably not going to dip below $9, thanks to the whales who decided to pick it up during the lull. So, breathe easy for now. We’ll see how it all plays out, like a soap opera, only with more digital coins and fewer dramatic monologues.
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2025-04-17 20:52