Chainlink (LINK) is attracting the attention of major institutional players, yet the price chart indicates a continuing decline.
Institutional Attention Towards Chainlink
Recent research by leading companies such as Visa, Fidelity, ANZ, and Accenture highlights Chainlink's role in the infrastructure of real asset tokenization. These companies recognize how Chainlink contributes to new digital trends, including tools for cross-chain communication and compliance verification.
Price Fluctuations and Technical Analysis
Chainlink finds itself within a descending broadening channel, indicating increased volatility amid a downward trend. The latest price movement showed a sharp drop of 7.85%, confirming seller control in the market. The RSI and MACD indicators remain low, suggesting a lack of momentum for recovery.
Outlook and Support Levels
Currently, the Chainlink price is hovering above important support levels that have previously held firm. If LINK breaks through these levels, the next target range could be between $11.50 and $10.80. Further declines may lead to the psychological $10 mark or lower.
Despite the growing interest from major institutions, price charts indicate bearish trends for Chainlink. Without a stronger demand from buyers, LINK may continue its decline.
