Saudi Arabia’s Saudi Awwal Bank is opening its doors for Chainlink services. As announced by Chainlink earlier today, the two firms have entered a strategic partnership with Saudi Awwal Bank aiming to leverage the blockchain’s services for deployment of advanced decentralized applications (dApps).
While Chainlink’s native token, LINK, has been struggling to stay afloat recently, the partnership could serve as a key momentum booster. Based on a recent technical formation, analysts are predicting that LINK could break out soon.
Chainlink’s Partnership with Saudi Awwal Bank
Chainlink confirmed the partnership with one of Saudi Arabia’s largest banks – Saudi Awwal Bank (SAB), in a post on X. As noted by Chainlink, the bank which controls over $100 billion in total assets has tapped the blockchain to facilitate the development of next-gen on-chain apps in the region.
Saudi Awwal Bank (@alawwalsab), one of Saudi Arabia’s largest banks with over $100 billion in total assets, is leveraging several Chainlink services to facilitate the deployment of next-generation onchain applications in Saudi Arabia.
Under the innovation agreement, SAB is… https://t.co/DAvUawI3Yg pic.twitter.com/Zhlm1GJdGp
— Chainlink (@chainlink) September 16, 2025
The partnership between the two firms marks a significant milestone for institutional adoption of Oracle’s infrastructure. In the announcement, Chainlink confirmed that Saudi Awwal Bank will leverage both the blockchain’s Cross-Chain Interoperability Protocol (CCIP) and the Chainlink Runtime Environment (CRE).
These services will help the Saudi bank accelerate its adoption of on-chain finance across the region by enabling developers to build with the aforementioned Chainlink services. Furthermore, SAB expressed enthusiasm for the partnership as it aligns with its commitment to financial innovation. SAB wrote;
“We are excited to announce the signing of Innovation Co-operation Agreement with Chainlink, aimed at experimenting with secure blockchain interoperability. This collaboration marks a pivotal step in our commitment to drive Financial Innovation in Saudi Arabia.”
SAB and Chainlink’s partnership will also drive adoption of LINK – the network’s native token. The token has been struggling recently but the partnership could lend credibility to the network’s interoperability, lending a major boost to the price of LINK.
LINK Price Performance and Analyst Prediction
As of this writing, data by Coingecko shows that Chainlink (LINK) is trading at $23.12. The current price level marks a 2.0% dip over the last 24 hours, close to 1% over the last 7 days and 5.8% over the last month.
Meanwhile, the trading volume of LINK has dropped to $696.22 million over the last 24 hours, signaling a drop in market activity around the coin. Clearly, the data paints a grim picture for Chainlink.
However, analysts believe that LINK could break out in the near future. In an analysis shared on X, crypto analyst Rose Premium Signals (@VIPRoseTr) predicts that the coin is set to rally, after a recent bullish technical formation.
The analyst observed that Chainlink has formed a textbook bull flag on the weekly. This technical formation is often interpreted as bullish and could result in a parabolic rally. Rose believes that the coin, which is currently moving inside the channel, could break out towards $34 or even $40.
“Chainlink is printing a textbook bull flag on the weekly timeframe. Price is consolidating inside the channel — a breakout could ignite the next leg up. Breakout above the channel resistance will likely lead to explosive momentum! Targets: $34.62 and $40.49,” Rose predicted.
Whether LINK rallies to the predicted level or not is just a matter of time. However, the partnership between Saudi Awwal Bank and Chainlink could lend the rally some support. But still, investors must remain cautious as such a parabolic rally must be backed by strong technical and on-chain indicators.
Investors must track the coin’s momentum indicators like the RSI and MACD as well as on-chain indicators such as exchange reserves. These indicators are vital in determining the momentum as well as selling/buying pressure for the coin.
