Chainlink Price Rebound Hinges on Institutional Integrations Amid Bearish Pressure

Chainlink's (LINK) price has been under bearish pressure after losing key support at $8.38, but institutional integrations are strengthening its role in enabling cross-chain solutions and expanding blockchain adoption across financial markets.

The current market capitalization of LINK is $6.25 billion, with a 24-hour trading volume of $146.59 million.

According to Crypto Patel, the breakdown below the critical support level has weakened the previous bullish momentum, giving bears greater control over short-term price action.

However, despite the bearish prediction, LINK's price is moving upward, backed by the general trend in the crypto market as Bitcoin starts to move upward again.