Chainlink announced its latest integration on Thursday, confirming that Westpac Institutional Bank and Imperium Markets have adopted its services in Project Acacia, a Reserve Bank of Australia (RBA)-backed initiative.
Project Acacia is being developed in collaboration with Digital Finance CRC. The project aims to enable seamless and secure Delivery vs. Payment (DvP) settlement for tokenized assets. It connects blockchain infrastructure to Australia’s domestic PayTo payment system, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Chainlink’s Runtime Environment (CRE).
According to Chainlink’s post on X, the integration “accelerates the adoption of digital assets and brings institutional capital onchain.” The CRE architecture supports compliance and real-time automation for asset transfers across traditional and tokenized finance.
In a separate blog post, Westpac Institutional Bank highlighted the potential impact of tokenization. The bank cited RBA estimates showing annual cost savings between AUD 1 billion and AUD 4 billion. Westpac added that tokenized capital markets could reduce costs by up to AUD 13 billion per year for issuers.
By linking blockchain platforms to domestic payment systems, Project Acacia aims to streamline settlement and reduce friction in financial markets. The move adds another real-world use case to Chainlink’s expanding list of institutional applications.
Chainlink Forms Rising Wedge, Points to 19% Upside Toward $20.38
On July 17, 2025, a new 4-hour chart of Chainlink (LINK/USD) created on TradingView shows a clearly defined rising wedge pattern. The price is trading at $17.14 on Coinbase and has climbed steadily within two converging trendlines marked in red.
A rising wedge pattern is a technical structure where the price forms higher highs and higher lows, but the range tightens over time. Typically, this pattern suggests a potential reversal or breakout once the price exits the wedge. However, in some cases—especially during strong uptrends—it can signal a bullish continuation if the breakout occurs upward.
In this instance, the breakout arrow points to a projected target of $20.38, representing a 19% potential gain from the current price level. The 50-period Exponential Moving Average (EMA), shown at $15.58, continues to offer dynamic support.
The chart also shows a volume spike on July 17, suggesting strong buying interest as LINK approaches the upper wedge boundary.
If the breakout holds, Chainlink could reach the projected $20.38 target in the near term.
Chainlink RSI Nears Overbought, Signals Strong Momentum
On July 17, 2025, a fresh 4-hour Relative Strength Index (RSI) chart for Chainlink (LINK/USD) on TradingView shows the RSI line climbing to 68.90, just below the 70 overbought threshold. The RSI is paired with a smoothing average currently positioned at 63.12.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100. Readings above 70 typically suggest overbought conditions, while levels below 30 indicate oversold markets.
As of now, LINK’s RSI has approached the overbought zone, suggesting that bullish momentum is strong but possibly nearing exhaustion. However, in uptrending markets, the RSI can stay above 70 for extended periods without triggering an immediate pullback.
The yellow moving average line crossing below the RSI line reinforces ongoing buying strength. If RSI breaks above 70, it may confirm continued price acceleration, possibly aligning with the rising wedge breakout chart shown earlier.
This momentum data supports the short-term bullish case for LINK, which could help push the price closer to the $20.38 projected target.
Chainlink Balance of Power Turns Slightly Bearish on July 17
On July 17, 2025, a new 4-hour Balance of Power (BOP) chart for Chainlink (LINK/USD) shows the indicator at –0.04, slightly below the neutral zero line. This reading suggests a minor shift toward seller dominance.
The Balance of Power indicator measures the strength of buyers versus sellers in a given period. Values above 0 indicate that buyers are in control, while negative values point to selling pressure.
Currently, BOP hovers near the midpoint, showing that neither bulls nor bears have firm control. However, the small negative tilt reflects slight profit-taking or a temporary pause in bullish momentum. The frequent swings on the chart also confirm volatile intraday sentiment over the past two weeks.
Despite this mild bearish reading, the absence of sharp downward spikes implies no major reversal yet. When paired with the rising wedge breakout and the strong Relative Strength Index (RSI), the BOP still leaves room for continued upside—if buyers regain control soon.
Chainlink MACD Turns Bullish, Signals Upward Momentum
As of July 17, 2025, the 4-hour Moving Average Convergence Divergence (MACD) chart for Chainlink (LINK/USD) on TradingView shows a clear bullish crossover. The MACD line (blue) is at 0.430, while the signal line (orange) stands at 0.363. The histogram confirms this positive momentum with green bars extending upward, and the latest reading is 0.067.
The MACD indicator tracks momentum by comparing two exponential moving averages—usually the 12-period and 26-period. A bullish crossover occurs when the MACD line crosses above the signal line, while a bearish crossover happens when it crosses below.
Right now, the blue MACD line has moved firmly above the orange signal line, confirming renewed buying strength. The increasing green histogram bars reinforce this trend, suggesting that bullish momentum is building.
This MACD setup aligns with Chainlink’s recent rising wedge breakout and elevated Relative Strength Index (RSI), adding more confirmation to the short-term upside thesis. If the MACD curve continues to widen, LINK may accelerate toward the projected $20.38 breakout target.
