Chainlink (LINK) is a relatively new decentralized network that aims to provide an alternative to the existing Ethereum network. LINK is striving to be a faster, more scalable and more secure platform that will attract more users. LINK has a current circulating supply of 1,168,879 LINK coins and a total supply of 1,742,304 LINK coins. Current exchange prices show LINK prices ranging between $6.50 USD and $9.00 USD. The LINK price is expected to reach $22.00 USD, according to the CoinMarketCap data.
Here is a quick update on Chainlink (LINK) , one of the most popular cryptocurrencies, which has made a significant rise in recent times. Chainlink is a decentralized oracle network, which allows smart contracts to query external data sources. In a nutshell, the Chainlink network acts as an intermediary between smart contracts and external data sources. This is what allows the Chainlink network to provide the data to the smart contracts, which are then able to use the data to avoid possible errors or fraud.
The new year has given us a lot of technical analysis to go over, and Chainlink is one of the top contenders. We do our best to keep prices in line with the current market, and will be sharing some analysis that we’ve completed with you today. Background: Chainlink (LINK) is an upcoming project that brings blockchain technology to the world of decentralized applications. Up to this point, almost all decentralized applications that have been built on blockchain technology have relied on smart contracts to transfer funds and data. However, smart contracts are still facing problems in terms of scalability and security. Why do we think LINK is a project to watch? First, let’s look at the technical setup. LINK utilizes a private Ethereum-. Read more about chain link crypto price and let us know what you think.Summary of the situation
- LINK increased during the night.
- The highest minimum is $18.
- The next target is $22.
The chain price analysis for today is bullish, as the market made a low yesterday and the bulls are now starting to push the market higher. Therefore, the LINK/USD pair is expected to head for the next resistance at $22 in the coming days.
Heatmap for crypto-currencies. Source: Coin360
Overall, the market has traded in the green for the past 24 hours. Bitcoin was up 3.6 percent and Ethereum was up nearly 8 percent. Meanwhile, the rest of the crypto-currency market is seeing similar increases.
Chain link price changes in the last 24 hours
LINK/USD was trading in a range of $17.55 – $18.79, indicating moderate volatility. Trading volume fell 26% to $537.8 billion. Its total market capitalization is about $8.1 billion, making it the 15th largest company.
LINK/USD chart 4 hours – Is the LINK preparing for another rise?
On the 4 hour chart we can see that Chainlink’s price has peaked and is starting to rise again.
LINK/USD chart 4 hours. Source: TradingView
In recent weeks, the market has generally been on a downward trend. After a higher top around $35, the LINK/USD fell more than 55% to key support at $15.
This means that LINK/USD is currently in the decision zone. If we see another rise above $26, the whole market structure will turn upward again. Alternatively, we expect LINK to move lower and break below $15 next time.
Over the past week, the bulls have pushed Chainlink’s stock price higher, and local highs and lows have been established, suggesting that momentum is building. Yesterday, LINK pulled back and set a higher bottom around the $17 mark. A bottom was then formed overnight, from which upward pressure was exerted in the following days. This move in price action should take LINK/USD to $22, but does not yet mean that the overall price action dynamics have changed.
Channel price analysis: Supplement
The chain price analysis is bullish for today, as a lower high was made overnight and the market is gearing up for another push higher. Therefore, we expect LINK/USD to break the previous high at $20.5 and test the next resistance at $22.
In anticipation of Chainlink’s rise, read our guides on the benefits of DeFi, bitcoin commissions and what you can buy with bitcoin.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.
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