Chainlink’s LINK token is trading near $10.88, placing it at a key support zone between $10.85 and $10.90 after retreating from a September peak above $13. A sustained hold could preserve the bullish structure formed during August’s breakout, while a daily close below $10.85 could expose the token to a move toward $10. Resistance remains at $11.50-$12, with the September high above $13 as a further barrier. Daily RSI (Relative Strength Index, a momentum gauge) has fallen to about 46 from above 80 in August, indicating that overbought conditions have eased without a clear return of bullish momentum. Regulatory uncertainty intensified after the U.S. Senate failed to secure the 60 votes needed to advance the Digital Asset Market CLARITY Act, legislation intended to establish a federal framework for digital assets and clarify the roles of the SEC and CFTC (U.S. derivatives regulator). The vote pressured Bitcoin and crypto-focused equities, including Coinbase and Circle. Reuters said procedural mechanisms could allow the legislation to be reconsidered, but the route toward comprehensive regulation is now less certain. Chainlink’s institutional infrastructure expansion has continued: Wyoming’s Stable Token Commission integrated Chainlink Proof of Reserve in early May for the government-issued Frontier Stable Token, or FRNT, enabling real-time onchain verification of reserve assets. In August, Wyoming moved FRNT’s cross-chain functionality to Chainlink’s CCIP (Cross-Chain Interoperability Protocol), making it the sole cross-chain infrastructure after a comprehensive security evaluation.