While Chainlink staking v0.1 will go live on the mainnet on December 6, the LINK price has shown a strong performance over the past week. At press time, LINK was trading at $7.58, and thus up 13.5% over the last week.<\/p>\n
Still, Chainlink has been going sideways for seven months. However, thanks to dovish comments from U.S. Federal Reserve Chairman Jerome Powell during a speech<\/a> yesterday, the horizon for relief rallies within the crypto market are widening again.<\/p>\n Looking at the daily chart, Chainlink is still in the middle of its 7-month range, yet the introduction of staking could generate much more interest for the project.<\/p>\n LINK has not made new lows within the 1-day time frame recently, which suggests bull strength<\/a> from a technical perspective. Chainlink (LINK) price has risen 35% since its recent low.<\/p>\n Nevertheless, the upper end of the 7-month range remains the next crucial target in the daily chart. If LINK is able to break out, the next target could be the zone around $12.30.<\/p>\n LINK price, 1-day chart. Source: TradingView<\/a><\/p>\n On a smaller time frame, LINK is in the middle of its 7-month range, where key resistance zones can also be found. In the 4-hour chart, a correction was recently observed, after which a renewed upswing occurred.<\/p>\n From a technical perspective, LINK should not fall below $6.70. Once LINK begins to hold here, it is prudent to look at the $8.50 to $9.50 zone, where the next key resistance is located.<\/p>\n LINK price, 4-hour chart. Source: TradingView<\/a><\/p>\n With Chainlink staking v0.1 released on the Ethereum mainnet on December 6, the project aims<\/a> to complete an iterative approach to developing future versions of staking beyond this initial release.<\/p>\n Originally, a lock-in period of 12-24 months, based on a conservative release cycle, was planned. However, after discussions with a number of community members and node operators, it is now clear that a faster iteration with frequent releases, each with a compressed scope, will be the final solution.<\/p>\n The next version of staking (v0.2) is now scheduled for release in 9-12 months. At that time, stakers from v0.1 will be able to unlock or migrate their staked LINK and rewards for the first time.<\/p>\n On December 6, only a few addresses will initially be eligible for staking. They will be able to stake up to 7,000 LINK worth about $53,000 in a capped staking pool.<\/p>\n On December 8, the staking pool will be open to all. Again, there will be an initial cap on the pool of 25 million LINK.<\/p>\n As staking reduces the supply of liquid LINK, it could be a potential price catalyst, boosting the Chainlink price out of its 7-month range. Investors should therefore closely watch LINK\u2019s performance over the next two week.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n While Chainlink staking v0.1 will go live on the mainnet on December 6, the LINK price has shown a strong performance over the past week. At press time, LINK was trading at $7.58, and thus up 13.5% over the last week.<\/p>\n Still, Chainlink has been going sideways for seven months. However, thanks to dovish comments from U.S. Federal Reserve Chairman Jerome Powell during a speech<\/a> yesterday, the horizon for relief rallies within the crypto market are widening again.<\/p>\n Looking at the daily chart, Chainlink is still in the middle of its 7-month range, yet the introduction of staking could generate much more interest for the project.<\/p>\n LINK has not made new lows within the 1-day time frame recently, which suggests bull strength<\/a> from a technical perspective. Chainlink (LINK) price has risen 35% since its recent low.<\/p>\n Nevertheless, the upper end of the 7-month range remains the next crucial target in the daily chart. If LINK is able to break out, the next target could be the zone around $12.30.<\/p>\n LINK price, 1-day chart. Source: TradingView<\/a><\/p>\n On a smaller time frame, LINK is in the middle of its 7-month range, where key resistance zones can also be found. In the 4-hour chart, a correction was recently observed, after which a renewed upswing occurred.<\/p>\n From a technical perspective, LINK should not fall below $6.70. Once LINK begins to hold here, it is prudent to look at the $8.50 to $9.50 zone, where the next key resistance is located.<\/p>\n LINK price, 4-hour chart. Source: TradingView<\/a><\/p>\nChainlink Staking As Catalyst For A Price Boost?<\/h2>\n
Chainlink Staking As Catalyst For A Price Boost?<\/h2>\n