BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Chainlink is Looking to Make a Move; Will it Break Through Key Resistance?

by Drop Gorn
November 5, 2024
in CRYPTO
Reading Time: 3 mins read
A A
2
SHARES
28
VIEWS
Share on XShare in TelegramShare on Reddit

Chainlink

Launched in 2017, Chainlink ($LINK) has established itself as a key player in the blockchain industry by connecting smart contracts to external data sources. Its decentralized oracle network facilitates secure interactions between blockchains and off-chain data, enhancing the functionality of smart contracts across multiple platforms.

Price Movements

Currently, $LINK is trading at about $10.3, with a market cap of roughly $6.5 billion. Over the past year, $LINK has not experienced significant growth. It did, however, gain momentum in March, reaching a peak of about $22 during a bullish trend, but has since adjusted to its current price.

Credit: CoinGecko

Technical Analysis

From a technical perspective, $LINK is currently moving between crucial support and resistance levels. The key support level is approximately $10, which has remained firm during recent declines. However, if it falls below this support level, increased selling pressure could drive the price down toward the next significant support at $7.

On the resistance front, $LINK encounters a challenge at the $13 level. If it surpasses this resistance, it may target $15, a significant psychological barrier that could attract more buying interest.

Market Sentiment and Developments

The overall sentiment around Chainlink remains cautiously positive as it continues to reinforce its position as the top decentralized oracle provider. Recently, over 40 teams have announced integrations with Chainlink across 14 different blockchain networks, emphasizing its vital role in the ecosystem.

Additionally, Chainlink is now supporting the emerging BTCFi ecosystem, which aims to enhance market liquidity and facilitate user interactions with DeFi in the Bitcoin environment. This development further solidifies Chainlink’s importance and draws attention from developers and investors.

Future Outlook

With its robust technology and ongoing innovation, Chainlink is well-positioned for long-term growth. So, as the adoption of smart contracts increases and the need for reliable, decentralized oracles expands, $LINK is poised to remain a key contender in the cryptocurrency arena.

Tags: $LINKChainlinkDeFi
Tweet1ShareShare
Previous Post

What is an NFT?; An FAQ on Non-Fungibles.

Next Post

Cardano’s Next Move; This is Why $ADA is Turning into a Stablecoin

DON'T MISS THESE! HOT OFF THE PRESS

Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution
CRYPTO

Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution

June 30, 2025
Aptos Looks Stuck… But Under the Surface, Things Are Heating Up
CRYPTO

Aptos Looks Stuck… But Under the Surface, Things Are Heating Up

June 30, 2025
SEI’s Having a Moment—and It Might Just Be Getting Started
CRYPTO

SEI’s Having a Moment—and It Might Just Be Getting Started

June 30, 2025
Could 500M SHIB Turn Into a Goldmine by 2032?
CRYPTO

Could 500M SHIB Turn Into a Goldmine by 2032?

June 30, 2025
HBAR’s Making Quiet Moves—And Whales Might Already Know What’s Coming
CRYPTO

HBAR’s Making Quiet Moves—And Whales Might Already Know What’s Coming

June 30, 2025
Avalanche Holds Steady While the Market Wobbles
CRYPTO

Avalanche Holds Steady While the Market Wobbles

June 30, 2025
Load More

Related News

White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note

White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note

June 30, 2025
Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution

Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution

June 30, 2025
Aptos Looks Stuck… But Under the Surface, Things Are Heating Up

Aptos Looks Stuck… But Under the Surface, Things Are Heating Up

June 30, 2025
SEI’s Having a Moment—and It Might Just Be Getting Started

SEI’s Having a Moment—and It Might Just Be Getting Started

June 30, 2025
Could 500M SHIB Turn Into a Goldmine by 2032?

Could 500M SHIB Turn Into a Goldmine by 2032?

June 30, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.