LINK recorded impressive gains in the past week, with an over 43% seven-day price increase. However, the token\u2019s price has slightly retraced in the last 24 hours, likely due to buyers taking profit after an aggressive accumulation phase for LINK tokens.\u00a0<\/p>\n
Chainlink\u2019s notable uptick could be due to the ongoing bullish waves in the broader crypto market. Bitcoin<\/a>, the flagship cryptocurrency, recorded a significant uptick, surging to nearly $35,000, the highest in over a year.\u00a0<\/p>\n Bitcoin\u2019s performance triggered a wave of optimism across the crypto market, causing most coins, including LINK, to soar. Moreover, Chainlink\u2019s CCIP has recorded additional adoption<\/a> and likely consolidated on LINK\u2019s price gains.\u00a0<\/p>\n But how far can the ongoing bullish momentum take LINK? Can it conquer prevailing resistance to reach $15? Let\u2019s find out!\u00a0<\/p>\n LINK<\/a> is in an uptrend after breaching the $6.99 support level as buyers re-entered the market and forced a rally<\/a> to the $11.9 resistance level.\u00a0<\/p>\n LINK\u2019s rally began last week when it surged from $7.42 on October 16 to $10.41 on October 23. While the rally has stalled, the latest strides show that buyers are intent on facilitating further rallies to retest the $11.9 resistance<\/p>\n A move above this level would empower LINK to target $15. Moreover, the higher high candlesticks on the chart imply that LINK will likely consolidate on its rally in the coming days.\u00a0<\/p>\n Additionally, the Moving Average Convergence\/Divergence (MACD) is above its signal line, displaying a strong buy signal. The green Histogram bars confirm this signal, which implies that LINK buyers are still active.\u00a0<\/p>\n LINK trades at $11.003, with a 1.62% increase in the last 24 hours. Based on LINK\u2019s trajectory, it will likely break above the $11.9 resistance to reach $15 in the coming weeks if buyers sustain their charge.\u00a0<\/p>\n Besides the general uptrend in the crypto market, Chainlink has recorded notable developments within its ecosystem, likely sustaining its price gains.\u00a0\u00a0<\/p>\n One such is the integration<\/a> of Chainlink\u2019s CCIP by DeFi provider Affine. The Chainlink CCIP is the new industry standard for secure cross-chain linking on Ethereum and Polygon mainnets.\u00a0<\/p>\n Affine hopes to leverage the CCIP\u2019s messaging abilities to create a cross-chain NFT bridging function for Affine Pass NFTs. It will ensure seamless and secure NFT transfers between supported blockchains.\u00a0<\/p>\n According to Affine developers, they selected Chainlink to host the Affine NFTs due to its proven security and reliability track record.\u00a0<\/p>\n More so, some experts forecast<\/a> that there will be up to $5 trillion in tokenized digital securities by 2030. Chainlink will likely benefit from this expansion since it is a significant player in tokenized assets technology.<\/p>\n With benefits such as fast transaction settlements, operational cost savings, and enhanced transparency, tokenization will likely boost Chainlink\u2019s overall value.\u00a0<\/p>\n These developments are likely sustaining the price gains for the LINK token in the past week. Although LINK trades slightly above $11\u00a0today, it will likely rise to $15 if market conditions remain favorable.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n LINK recorded impressive gains in the past week, with an over 43% seven-day price increase. However, the token\u2019s price has slightly retraced in the last 24 hours, likely due to buyers taking profit after an aggressive accumulation phase for LINK tokens.\u00a0<\/p>\n Chainlink\u2019s notable uptick could be due to the ongoing bullish waves in the broader crypto market. Bitcoin<\/a>, the flagship cryptocurrency, recorded a significant uptick, surging to nearly $35,000, the highest in over a year.\u00a0<\/p>\n Bitcoin\u2019s performance triggered a wave of optimism across the crypto market, causing most coins, including LINK, to soar. Moreover, Chainlink\u2019s CCIP has recorded additional adoption<\/a> and likely consolidated on LINK\u2019s price gains.\u00a0<\/p>\n But how far can the ongoing bullish momentum take LINK? Can it conquer prevailing resistance to reach $15? Let\u2019s find out!\u00a0<\/p>\n LINK<\/a> is in an uptrend after breaching the $6.99 support level as buyers re-entered the market and forced a rally<\/a> to the $11.9 resistance level.\u00a0<\/p>\n LINK\u2019s rally began last week when it surged from $7.42 on October 16 to $10.41 on October 23. While the rally has stalled, the latest strides show that buyers are intent on facilitating further rallies to retest the $11.9 resistance<\/p>\n A move above this level would empower LINK to target $15. Moreover, the higher high candlesticks on the chart imply that LINK will likely consolidate on its rally in the coming days.\u00a0<\/p>\n Additionally, the Moving Average Convergence\/Divergence (MACD) is above its signal line, displaying a strong buy signal. The green Histogram bars confirm this signal, which implies that LINK buyers are still active.\u00a0<\/p>\n LINK trades at $11.003, with a 1.62% increase in the last 24 hours. Based on LINK\u2019s trajectory, it will likely break above the $11.9 resistance to reach $15 in the coming weeks if buyers sustain their charge.\u00a0<\/p>\n Besides the general uptrend in the crypto market, Chainlink has recorded notable developments within its ecosystem, likely sustaining its price gains.\u00a0\u00a0<\/p>\nLINK Shows Signs Of Retracement, Is $15 Possible?<\/h2>\n
What Is Driving LINK\u2019s Price Gains?<\/h2>\n
LINK Shows Signs Of Retracement, Is $15 Possible?<\/h2>\n
What Is Driving LINK\u2019s Price Gains?<\/h2>\n