Key Notes
Chainlink’s price reached $25 on September 13, achieving a weekly gain of 15%. Polymarket has successfully integrated Chainlink’s oracle on the Polygon mainnet. Open interest has decreased, even though trading volumes have risen by 7%.
Chainlink’s price soared to nearly $25 on Saturday, September 13, marking a 15% increase over the week. This upswing coincided with Polymarket’s official announcement of its integration of Chainlink’s price feed for settling wagers based on market prices. In a press release issued on Friday, both parties revealed that the integration is now operational on the Polygon mainnet. The upgrade facilitates the development of secure, real-time prediction markets across numerous cryptocurrency trading pairs. Furthermore, it enhances Chainlink’s capability to settle markets that involve subjective questions, thereby reducing the dependency on social voting and minimizing resolution risks. “The integration of Chainlink’s established oracle system is a significant step that significantly improves the way prediction markets are formed and resolved. When outcomes are determined using reliable data and secure computations from oracle networks, prediction markets transform into trustworthy, real-time indicators for global audiences,” stated Sergey Nazarov, Co-Founder of Chainlink.
With the integration of Chainlink’s data streams, Polymarket benefits from low-latency, verifiable price reports and automated settlements on-chain. This advancement enables near-instant resolution, particularly for deterministic outcomes, such as predictions related to Bitcoin or Ethereum prices. The LINK price movement initially reflected positive sentiment following this announcement on Friday, but signs of potential overheating in momentum were also evident. According to Coinglass’ derivatives data, Chainlink’s open interest held steady at $1.7 billion, showing a slight decline of 0.02% for the day, despite a 7.3% increase in trading volumes. This indicates that most intraday speculative activities were likely from traders reducing their LINK futures positions, as the market sentiment edges toward euphoric levels.
LINK Price Forecast: Can Bulls Sustain Momentum Above $25?
From a technical analysis standpoint, Chainlink’s daily price chart indicates a 15.9% increase over the past six sessions, bouncing off a support level at $22 and reaching intraday highs near $25 on Saturday. The 5-day and 8-day simple moving averages (SMAs) have crossed above the 13-day SMA, creating a Golden Cross signal at around $24. The Relative Strength Index (RSI) currently sits at 65, which is below the overbought threshold, suggesting there is still potential for further gains. If the LINK price manages to close decisively above the $25 mark, the next significant target will be approximately $28, where a previous 42% breakout related to a partnership with the US Government stalled in August. Conversely, if LINK fails to maintain its position above $24, it could lead to a retest of the $23.30 support level. A drop below that point would invalidate the current Golden Cross bullish signal, potentially driving LINK down to the next psychological support level at $20.
SUBBD Presale Gains Momentum as Solana’s Corporate Adoption Sparks Market Interest
While Chainlink reaps the benefits of new institutional partnerships, emerging projects like SUBBD ($SUBBD), which offer innovative utility features, are also gaining attention. SUBBD combines creator-fan interactions with real-world applications, enabling fans to engage with creators while enjoying AI-driven content personalization.
Currently priced at $0.05625, the SUBBD presale has successfully raised $1.13 million out of its $1.4 million goal, with only a few discounted tiers remaining. Interested participants can still acquire SUBBD tokens directly from the official website before the next price increase takes effect.
Disclaimer
Coinspeaker is dedicated to providing impartial and transparent reporting. This article seeks to present accurate and timely information and should not be construed as financial or investment advice. Given the fast-changing nature of market conditions, we recommend verifying details independently and consulting with a professional before making any financial decisions based on this content.
