- Chainlink rallies to $9.286 as Canton blockchain deploys Data Streams, SmartData, and Proof of Reserve for institutional tokenization at scale.
- Canton processes $350B in daily U.S. Treasury repo transactions with over $8T in on-chain RWAs since May 2024 mainnet launch.
- RSI spikes to 67.82 on 2-hour chart as price bounces from $7.20 February low, testing resistance near $9.30.
Chainlink price today trades near $9.286, up 0.18% in the past 24 hours as the token consolidates recent gains following the announcement that Canton blockchain has deployed Chainlink’s data infrastructure live across its ecosystem. The integration brings oracle services to a network processing $350 billion in daily U.S. Treasury repo transactions.
Canton Deploys Chainlink To Support $8 Trillion In Tokenized Assets
Canton blockchain announced the live deployment of Chainlink’s data infrastructure across its ecosystem to support institutional tokenization at scale. The integration brings Chainlink Data Streams, SmartData, and Proof of Reserve to a network processing $350 billion in daily U.S. Treasury repo transactions.
Since launching in May 2024, Canton has emerged as a leading platform for regulated tokenized assets, underpinning over $8 trillion in onchain RWAs. Chainlink’s oracle services now provide the real-time pricing, valuation, and collateral verification institutions need for lending, settlement, and risk management.
Canton ecosystem partners including CBTC by BitSafe, Thetanuts Finance, and Kairo are already using the Chainlink data standard in production. Chainlink Labs also serves as a Canton Super Validator, contributing to governance and transaction sequencing.
Price Bounces From $7.20 Low As All EMAs Remain Overhead
LINK Price Dynamics (Source: TradingView)On the daily chart, Chainlink continues to trade below all major moving averages despite the recent bounce. The 20-day EMA sits at $9.032, the 50-day at $10.214, the 100-day at $11.904, and the 200-day at $13.897. Supertrend remains bearish at $9.663, confirming sellers retain control despite the Canton news.
The chart shows:
- Price testing 20-day EMA resistance at $9.032
- All major EMAs stacked as overhead resistance
- Supertrend bearish at $9.663
- Clean bounce from $7.20 February low
Chainlink dropped from above $27 in August to a low near $7.20 in February, marking a 73% correction. The current bounce to $9.286 represents a 29% recovery from those lows, but the structure remains corrective. All major EMAs are stacked as resistance, creating significant friction for sustained recovery attempts.
A daily close above $9.663 would flip the Supertrend and signal the first major shift in momentum. Until that happens, each bounce represents a relief rally inside a broader corrective phase. The Canton integration provides a fundamental catalyst, but price needs to reclaim technical levels to confirm trend reversal.
2-Hour Chart Shows RSI Approaching Overbought
LINK Price Action (Source: TradingView)The 2-hour chart reveals Chainlink consolidating near $9.30 after spiking to $9.50 following the Canton announcement. Parabolic SAR sits at $9.133, acting as immediate support. RSI reached 67.82, approaching overbought territory but pulling back as price consolidates.
The structure shows:
- Price consolidating below $9.30 resistance
- SAR support at $9.133
- RSI at 67.82, approaching overbought
Buyers pushed LINK from $7.20 to $9.50 in a sharp recovery move, but sellers are defending the $9.30-$9.50 resistance zone. The Canton news provided a catalyst for the bounce, but price action suggests traders are taking profits near resistance rather than adding to longs.
A sustained move above $9.50 would place $9.663 Supertrend back in range. A breakdown below $9.133 would flip the SAR bearish and send price back to test $9.00 psychological support.
Outlook: Will Chainlink Go Up?
The next move depends on whether LINK can hold $9.133 and break above $9.663.
- Bullish case: A close above $9.663 with volume would flip the Supertrend and place $10.214 in range as Canton’s $8T tokenized asset ecosystem drives oracle demand. Reclaiming $10.214 confirms trend reversal.
- Bearish case: Rejection at $9.663 and a breakdown below $9.133 exposes $9.00, with further downside toward $8.50 if the Canton integration fails to drive sustained demand. Losing $9.00 retests the $7.20 lows.
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Source: https://coinedition.com/chainlink-price-prediction-bulls-charge-as-canton-integration-unlocks-8t-rwa-market/
