Chainlink (LINK) stabilizes price after international payment advancement led by Visa

Chainlink (LINK) is trading around $9.38 at the time of writing on Friday, as the cryptocurrency market continues to be affected by geopolitical tensions in the Middle East. The increased attacks by the United States and Israel on Iran have raised caution in global financial markets, causing crypto investors to be more cautious in their trading decisions.

However, despite the unstable atmosphere caused by escalating conflict, the crypto market still shows some resilience. Chainlink remains above a key support level of $9.00, reflecting steady demand. Nevertheless, this oracle token faces significant resistance around the $10.00 mark, likely causing prices to continue fluctuating within a narrow range, with support near $8.00 and resistance at $10.00.

Chainlink Aims for Cross-Border Payments Led by Visa

Visa, in collaboration with ANZ, ChinaAMC, and Fidelity International, has completed a cross-border payment test based on Chainlink’s oracle protocol — a system that acts as a bridge between blockchain and external data sources.

The test was conducted as part of Hong Kong Monetary Authority’s (HKMA) e-HKD program, an initiative to experiment with a digital version of the Hong Kong dollar. Using Chainlink’s infrastructure, digital assets can be transferred in a secure, automated, and near real-time environment.

According to Chainlink, their protocol plays a central role in the cross-border asset transfer solution between ANZ’s private DASChain network and the public Ethereum Sepolia network. Data standards, interoperability, and compliance mechanisms integrated into the protocol are seen as key to addressing the challenges faced by enterprise smart contracts.

“Chainlink’s Digital Transfer Agent (DTA) technical standard enables the automation of tokenized fund issuance in cross-chain transactions. At the same time, Chainlink’s data standard supports on-chain NAV data retrieval, paving the way for near real-time payments,” Chainlink shared on X (Twitter).

Chainlink’s Cross-Chain Payment System | Source: Chainlink

Chainlink states that these cross-border payment tests demonstrate that smart contracts serving organizations need to be equipped with more capabilities to operate effectively in the global financial market. Critical factors include reliable data sources, multi-chain interoperability, privacy, and compliance mechanisms integrated into the infrastructure.

Technical Outlook: Chainlink Maintains Key Support

Chainlink is currently trading within an accumulation zone, with a crucial support level at $8.00 and resistance around $10.00. In the short term, the trend is slightly upward as the MACD indicator remains above its signal line on the daily chart. The green histogram bars continue to expand, indicating increasing buying momentum and encouraging traders to increase their positions.

Meanwhile, the RSI hovers around 53, indicating moderate buying pressure and that the market has not entered overbought territory. However, LINK’s spot price remains below the 50-day, 100-day, and 200-day moving averages, which are converging in the $10.00–$13.53 range. Notably, all three EMAs are trending downward, suggesting that the dominant trend on higher timeframes remains corrective despite short-term recovery signals.

Daily LINK/USDT Chart | Source: TradingView

From a technical perspective, the nearest resistance zone is at the downward trendline combined with the 50-day EMA around $10.00. If the price can close above this confluence, LINK’s upward momentum could extend to the 100-day EMA at $11.52, before targeting the 200-day EMA near $13.53.

Conversely, the immediate support is at $9.08 — the intraday low — serving as a critical buffer to limit deeper corrections toward $8.68 (Thursday’s low) and the strong support zone at $8.00.

As long as LINK stays above $9.08 and continues to test the downward trendline, the short-term risk-reward balance favors a breakout to the upside rather than a return to the recent accumulation lows.