Chainlink's Bullish Momentum Gains Steam Amid Overbought Conditions

Chainlink (LINK) has maintained its bullish setup despite trading near $14.50 after gaining over 2% in the past week, according to Traders Union's weekly outlook.

The token's strong buy signals come from both the MACD and ADX indicators, which are now above all key daily moving averages.

However, some indicators point toward overbought conditions ahead, suggesting that LINK may face a short-term pause.

The launch of Chainlink's upgraded Cross-Chain Interoperability Protocol (CCIP) 2.0 and its partnership with Swift have boosted institutional adoption this week, further reinforcing the token's bullish momentum.