Chainlink (LINK) is currently trading at $11.6, marking a 2.42% increase in the last 24 hours. After a strong resurgence in the past month
Chainlink (LINK) price today is $11.6, which marks a 2.42% increase over the last 24 hours. After a strong resurgence in the past month, LINK continues to solidify its position in the gaming, DeFi, and banking sectors through strategic partnerships. This momentum is reflected in its price performance, as large investors have shown renewed interest in the token.
Chainlink (LINK) has seen a remarkable resurgence in the past month, surging as high as $12.7, following a strong bullish momentum. This price action comes after a period of decline, where LINK dropped to a low of $9.87 on September 2024. From its peak price during the same period, LINK is now down by 9.87%, and up by 0.17% from its 7-day maximum.
Chainlink (LINK) Price Analysis 24Hr Chart
Key Levels
Resistance: $12, $13, $14
Support: $10, $9, $8
On the daily LINKUSD chart, Chainlink’s price has been following a robust upward trajectory. This price action has been bolstered by the Parabolic SAR indicator, which now shows dots forming consistently below the price, a strong sign of bullish momentum. Such a signal typically reflects that the current trend may continue its upward movement in the near term.
Furthermore, the MACD indicator has confirmed a bullish crossover, as the MACD line has risen above the signal line. This crossover is accompanied by a growing positive histogram, further indicating increasing buyer strength. The convergence of these technical indicators suggests a shift in market sentiment toward optimism, reinforcing the likelihood of sustained gains for LINK.
The daily chart illustrates a bullish trend, with LINK currently testing its $12.00 resistance level, setting the stage for a possible rally to $13 and eventually $14 if the buying momentum persists.
Chainlink’s Expansion Pushes Price Upsurge
Chainlink is making significant strides in multiple sectors. It is expanding its influence through major partnerships in gaming, DeFi, and banking. In gaming, Sony’s Soneium leverages Chainlink’s Cross Chain Interoperability Protocol (CCIP) and Data Feeds to enhance blockchain adoption in the industry.
In DeFi, Aave utilizes Chainlink Oracles for secure price feeds and cross-chain lending, while in banking, ANZ uses Chainlink to enhance cross-border payments and tokenize assets. Additionally, CitiBank is working with Chainlink to integrate DeFi into traditional finance.
Chainlink Whales Are Buying Big
These partnerships are driving growth for Chainlink, helping push blockchain technology into mainstream use. As a result, LINK’s price has remained resilient, attracting renewed interest from institutional investors, positioning the token for potential long-term growth.
LINK/BTC Performance Insight
In the LINK/BTC pair, Chainlink is trading at 0.0001713 BTC, with resistance at 0.0001850 BTC and strong support at 0.0001622 BTC. The Parabolic SAR dots are changing positions even though they are above the price action. Additionally, the MACD is approaching a crossover, suggesting the possibility of an upward breakout.
The LINK/BTC chart reflects an optimistic view for Chainlink with the potential for a bullish reversal, driven by Chainlink’s strong fundamentals and ongoing developments. If LINK manages to break past the 0.0001850 BTC resistance level, the next target could be 0.0002000 BTC.
Google Chainlink Acquisition Rumors Emerge
In a recent post on X (Twitter), DeFi Dynamos brought attention to rumors about Google potentially acquiring Chainlink. Followers were encouraged to watch a linked video and explore Chainlink’s partnership details, suggesting that such a deal could positively impact Chainlink’s market position and growth. The post also raised the intriguing question of whether Google might buy Chainlink or if Chainlink could acquire Google instead.
There have been rumors that #Google wants to acquire #Chainlink. Looking at the video below and Chainlink’s partner information, do you think Google will buy Chainlink or Chainlink will buy Google? ?#Chainlink #Google #Blockchain #Acquisition #Crypto pic.twitter.com/fbObSShVjq
— DeFi Dynamos (@DeFiDyn) October 20, 2024
Alternatives To Chainlink (LINK)
While Chainlink continues to lead the decentralized Oracle sector through significant partnerships in gaming, DeFi, and banking, other promising projects such as Pepe Unchained are gaining notable momentum. Pepe Unchained ($PEPU) is establishing itself as a formidable entrant in the meme coin market, poised to disrupt the landscape with its advanced Layer-2 technology.
The upward trajectory of Pepe Unchained is further supported by a successful presale that raised $2
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