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Chainlink (LINK) is currently trading at $18, showing strong upward momentum with bullish indicators like the Parabolic SAR and MACD. As the price approaches key resistance levels, traders are watching for potential breakouts, with support levels in place to maintain the trend.
LINK Key Statistics
- Current Price: $18
- Market Cap: $11 billion
- Trading Volume (24h): $1 billion
- Circulating Supply: 626 million LINK
- Total Supply: 1 billion LINK
- CoinMarketCap Ranking: #16
LINK has increased by 10.31% from the highest price over the last 30 and 7 days, and risen by 80.29% and 34.21% from the lowest recorded price during the same periods. This significant rise highlights the strong volatility and investors’ interest in the cryptocurrency during this timeframe.
LINK/USD Market
Key Levels
- Resistance: $19, $20, $21.5
- Support: $17, $16, $13
The daily chart shows a strong upward momentum as the price trades at $18.18, gaining 1.41% for the day. The bullish trend is supported by the Parabolic SAR indicator, with dots positioned below the price, confirming upward movement. The MACD shows a widening gap between the MACD line (1.394) and the signal line (1.014), indicating growing bullish momentum. Immediate resistance levels can be identified at $19.20, the current high, followed by $20.00 and $21.50, should the rally continue. On the downside, support is evident at $17.34, a previous low, with further levels at $16.00 and $13.73, where the Parabolic SAR last flipped bearish.
If Chainlink manages to sustain above $18.00, the bullish trajectory could aim for a test of the $19.20 resistance. A break above this level may pave the way toward $20.00 and beyond, contingent on continued bullish sentiment and volume. Conversely, a failure to maintain its current upward trend might lead to a pullback toward the $17.34 support. A breach of this level could see LINK retest $16.00, with $13.73 acting as a critical area for buyers to defend against further declines.
Chainlink Empowers WLFI Protocol with Cutting-Edge Data Integration
Chainlink has strengthened its position as a leader in decentralized data infrastructure through its partnership with World Liberty Financial (WLFI), a DeFi project linked to the Trump Organization. By integrating Chainlink Price Feeds on Ethereum, WLFI aims to utilize Chainlink’s reliable and accurate data services, pending approval by the WLFI Governance Platform. This collaboration underscores Chainlink’s role in delivering secure data solutions for emerging financial protocols as WLFI gears up for its launch on Aave v3.
What’s Next for Chainlink?
This partnership also highlights Chainlink’s growing impact in the DeFi sector, showcasing its capacity to provide vital on-chain data and cross-chain connectivity. With over $16 trillion in transaction value facilitated by its ecosystem, Chainlink’s adoption by WLFI reaffirms its status as the leading standard for decentralized infrastructure and interoperability, further cementing its importance in powering next-generation financial protocols.
LINK/BTC Performance Insight
The LINK/BTC chart on the daily timeframe indicates a positive momentum, as highlighted by the Parabolic SAR dots appearing below the price, signaling a bullish trend. LINK/BTC has climbed to 0.0001846, marking a 0.98% increase. The MACD histogram also reflects growing bullish momentum, with the MACD line crossing above the signal line, further supporting a potential continuation of the uptrend. Key resistance lies near 0.0002100, while immediate support is positioned around 0.0001471. Sustained momentum above current levels could propel LINK/BTC toward testing higher resistances.
Prominent crypto analyst @traderrocko highlighted Chainlink’s latest milestone, revealing the network has surpassed Visa with a total transaction value enabled (TVE) of $17.3 trillion. The tweet further emphasized the undervaluation of $LINK, suggesting it could be one of the most overlooked assets in the crypto space.
🚨Chainlink TVE has surpassed Visa, $17.3 Trillion transaction value enabled!!!!$LINK might be the most undervalued crypto 💎 pic.twitter.com/MUtoiSU0nC
— WSB Trader Rocko 🚀🚀🚀 (@traderrocko) November 23, 2024
Alternatives to LINK
Chainlink’s growing influence in the DeFi space highlights its role in providing essential on-chain data and enabling cross-chain connectivity. With its ecosystem facilitating over $16 trillion in transaction value, Chainlink remains a key player in helping decentralized finance protocols access real-time data and integrate multiple blockchain networks.
This success has paved the way for innovative projects like Pepe Unchained ($PEPU), which is currently experiencing a highly successful presale, raising more than $40 million. To further support growth and innovation, Pepe Unchained has launched a developer grant program aimed at fostering the development of advanced applications on its platform.
Pepe Unchained to Launch Soon
As a Layer 2 scaling solution on Ethereum, Pepe Unchained is designed to address the network’s scalability challenges while maintaining its strong security. By offering faster transaction speeds, lower fees, and improved security, $PEPU creates a more efficient and affordable platform for the Pepe meme coin and other potential projects. With its focus on scalability, security, and community-driven development, Pepe Unchained is poised to become a major force in the future of the Pepe ecosystem and the wider cryptocurrency landscape.
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