Chainlink Price Breaks Through $12 Resistance, Targets $15
Chainlink's price has surged more than 8% in the past day to trade near $13.26, marking an 18% gain over the last seven days following its breakout through the $12 resistance area.
The token initially moved above the $12 zone after Chainlink announced a strategic partnership with Bottomline on September 3, which connects Chainlink's infrastructure with banking payment systems for cross-border and cross-chain transactions.
Additionally, Circle's launch of cirBTC has provided another use case for Chainlink, utilizing its Proof of Reserve to offer onchain verification of Bitcoin reserves backing the wrapped token.
Technical analysis suggests that if Chainlink holds above the former breakout area, $14 is within reach. However, a pullback would put the $12 to $12.20 region and the 20-day EMA near $11.46 in focus.