The post Chainlink Joins SEC Crypto Task Force: LINK Price To Explode? appeared first on Coinpedia Fintech News
The LINK price has surged with renewed momentum, reacting to a blend of institutional partnerships, favorable legislation, and technical indicators pointing toward further upside.
Recently, a strong 15% intraday rally lifted the token to $19 recently, marking over 70% gains since the late-June ceasefire, and signaling an important turning point for the Chainlink ecosystem.
LINK Price Gains Steam with SEC Task Force Entry
In a recent rally, much of the recent strength in LINK price was fuelled by BTC rise and the announcement of a strategic partnership with Mastercard in early July.
But in the recent week, the Chainlink crypto saw a boost in market sentiment as Chainlink co-founder Sergey Nazarov acknowledged the growing adoption of the project.
He confirmed via his X post that the utility is boosting as major financial institutions like Westpac and Imperium Markets, further reinforcing LINK’s use case within real-world finance.
In another pivotal development, Chainlink revealed its inclusion as one of five crypto projects to join the newly-formed U.S. SEC Crypto Task Force.
This move boosts Chainlink’s legitimacy in regulatory circles and raises investors trust. It also hints at its increasing influence on crypto policy shaping and infrastructure-level integration in U.S. financial systems.
Moreover, the passing of the CLARITY and GENIUS Acts, aimed at improving regulatory transparency and innovation in crypto, also contributed to broader bullish momentum.
Technical Indicators Signal Strong Accumulation, but Short-Term Cooldown Possible
On the technical front, LINK price has reclaimed the 200-day EMA, with a golden cross now confirmed between the 20-day and 50-day EMAs.
Bullish momentum is also backed by a golden cross seen in the MACD indicator, with the histogram reading 0.441. The Awesome Oscillator (AO) also supports the upside view, printing a value of 2.840, while the Chaikin Money Flow (CMF) rose to 0.19 from 0.03, clearly signaling rising accumulation.
Yet, while the indicators lean bullish, the Relative Strength Index (RSI) shows overbought conditions at 80.16. This raises the possibility of a temporary consolidation or pullback before LINK price resumes upward movement.
LINK Price Chart Forms Multi-Year Ascending Wedge
Technical chart patterns add further interest to the bullish narrative in Chainlink crypto. The LINK price history suggests that its entire price action in the last couple of years occurred within a multi-year ascending broadening wedge, and its recent 25-day rally appears to stem from a bounce off the wedge’s lower boundary.
If this pattern continues to play out, it could unlock upside levels above $28 and even approach $30.
Prominent analyst Ali Martinez echoed this view, stating that LINK price is hovering just under the $18 resistance and a breakout could push it toward the $22–$28 range.
Nonetheless, downside risks remain. If LINK fails to sustain above $18, and the broader market turns bearish, the price could retrace toward $13 in a major correction.
Still, current indicators suggest that the breakout above $19 may be imminent as market forces continue to favor LINK’s climb.
