Chainlink Price Climbs on Mastercard Deal, But Can It Sustain Momentum?

Chainlink has caught the market’s attention after the news around a strategic partnership with Mastercard that enables over 3 billion cardholders to purchase cryptocurrencies directly on-chain. The integration allows users to convert fiat to crypto seamlessly, with Chainlink’s technology verifying and synchronizing critical transaction data. The news sparked a strong rally in Chainlink price, resulting in a double-digit percentage spike as optimism surged around real-world adoption. However, after a promising surge, the momentum appears to be stalling just below a key resistance zone. Let us analyze what the technicals suggest for LINK’s next move.Chainlink Price Analysis:As of press time, LINK is trading around $13.30, with a +1.35% daily gain and a $9 billion market cap. Despite this strength, the 24-hour trading volume has fallen by 7.18% to $532.35 million. It is worth noting that the asset traded between $12.97 and $13.72 in the last 24 hours.The RSI at 63.28 is in bullish territory but approaching overbought levels, hinting at possible consolidation or retracement. LINK is hovering close to its immediate support at $13.30, a level LINK must hold to avoid downside pressure. A breach below this level could expose it to deeper corrections, targeting $12.80, failing which, it could plummet to $11.On the upside, a confirmed breakout above $13.73, followed by a push past $14.15, would invalidate the bearish bias and open the door to further gains. Until then, the bearish setup remains in play, with a short-entry zone between $13.35 and $13.40, and a stop-loss at $13.86 to manage risk.Also read our Chainlink Price Prediction 2025, 2026-2030!FAQsWhy did Chainlink price spike recently? Chainlink surged following its partnership with Mastercard, which enabled on-chain crypto purchases using fiat, showcasing its real-world adoption potential. Is LINK currently in a bullish or bearish trend? LINK faces short-term bearish pressure after rejection at $13.73, though macro fundamentals remain positive. What are the key levels to watch for traders? While the support is at $13.30, resistance lies at $13.73 and $14.15, respectively.