Chainlink's Price Under Pressure Despite Mastercard Partnership

Chainlink's price has remained under pressure over the past week, with a 7-day drop of around 9.7%. The token is currently trading near $8.92, holding within a tight 24-hour range between $8.81 and $9.06.

The recent partnership with Mastercard has drawn attention from traders and institutional participants, introducing a fiat-to-crypto gateway designed to route traditional card payments directly into on-chain protocols. This system allows Mastercard's global user base to purchase digital assets without relying on centralized exchanges as intermediaries.

Despite the potential for long-term improvement in sentiment, the broader technical structure remains bearish, with 13 sell signals and only 3 buy signals across various indicators. Moving averages also remain firmly bearish, indicating that the trend has not yet shifted in favor of buyers.