• Chainlink moderates weekly gains within a narrow range with resistance at $10.00.
• Visa has completed a cross-border settlement solution powered by Chainlink, in collaboration with ANZ, ChinaAMC and Fidelity International.
• Chainlink's Digital Transfer Agent automates tokenized fund transfers in real time across regulated environments.

Chainlink (LINK) hovers around $9.38 at the time of writing on Thursday. This comes as crypto investors bravely navigate the Middle East war, with the United States (US) and Israel ramping up attacks on Iran and sending jitters across global markets.

Despite growing uncertainty amid the war, crypto prices are holding steady, as reflected by Chainlink’s steadiness above $9.00. However, the oracle token appears to be facing resistance at $10.00, affirming the range-bound movement with support at $8.00.

Chainlink eyes Visa-led cross-border payments

Visa, in collaboration with ANZ, ChinaAMC, and Fidelity International, has completed a cross-border settlement pilot using the Chainlink oracle protocol, a system that connects blockchains to external data sources. The settlement used the Hong Kong Monetary Authority’s e-HKD program, a project introducing a digital version of the Hong Kong dollar. This enabled Chainlink to transfer regulated digital assets in a secure, automated, real-time environment.

Chainlink stated that its protocol played a critical role in the cross-border transfer solution between ANZ's private DASChain and the public Ethereum Sepolia network. The protocol’s data, interoperability, and compliance standards are key to addressing the challenges facing institutional-grade smart contracts.

“Chainlink's Digital Transfer Agent (DTA) technical standard automates tokenized fund unit issuance as part of cross-chain transactions while leveraging the Chainlink data standard to fetch on-chain NAV data, enabling near-real-time settlement,” Chainlink stated on X.

According to Chainlink, cross-border settlement solutions indicate that institutional smart contracts need additional capabilities to operate in global markets. These include reliable data sources, cross-chain interoperability, privacy, and built-in compliance.

Technical outlook: Chainlink holds key support

Chainlink is rangebound between support at $8.00 and resistance at $10.00. The oracle token's near-term bias is cautiously bullish, with the Moving Average Convergence Divergence (MACD) indicator holding above its signal line on the daily chart. Green histogram bars are expanding, prompting traders to increase exposure.

The Relative Strength Index (RSI) around 53 on the same chart signals modest bullish pressure rather than overbought conditions. Nonetheless, the LINK spot price remains well below the 50-day, 100- day and 200-day Exponential Moving Averages (EMAs), which are clustered between $10.00 and $13.53. All three moving averages are drifting lower, keeping the broader structure corrective despite the short-term recovery.

Immediate resistance lies with the descending trendline and the 50-day EMA at $10.00. A daily close above this confluence supply zone would open the door toward the 100-day EMA at $11.52 and then the 200-day EMA at $13.53. On the downside, initial support appears at $9.08, the daily low, which is protecting against a deeper pullback toward Thursday's trough at $8.68 and the range support at $8.00.

As long as LINK holds above $9.08 and presses against the descending trend line, the risk skews toward an eventual topside break rather than a renewed slide toward the recent range floor.

(The technical analysis of this story was written with the help of an AI tool.)