Recently, the price performance of Chainlink(LINK) has been remarkable, breaking through to a 7-month high. This breakthrough not only signifies an important technical breakout but also reflects the market's positive attitude towards LINK.



From a technical analysis perspective, LINK has broken through a triangular pattern that has lasted for years and has found support in the $16-17 range. If it can maintain this momentum, it is expected to attempt to reach the $35-100 range in the future.

It is worth noting that the supply of LINK on the exchange has dropped to an all-time low, indicating that large funds may be continuously accumulating, and the market selling pressure has significantly weakened. This change in supply and demand dynamics may provide upward momentum for the price of LINK.

In terms of institutional collaboration, Chainlink is conducting pilot projects with several well-known institutions, including SWIFT, JPMorgan Chase, Euroclear, Mastercard, and the Central Bank of Brazil. These collaborations not only highlight the value of Chainlink's technology but also provide a clear direction for its future practical application scenarios.

From the on-chain data, the chips of LINK are gradually concentrating, and there are obvious signs of long-term capital entering the market. This may indicate that investors are optimistic about LINK in the long run.

In the short term, the market will closely monitor the key resistance level of $24. If it successfully breaks through, LINK may experience a wave of accelerated growth. Some analysts believe that this surge could even challenge the $50 mark or higher.

Overall, Chainlink's technological breakthroughs, institutional partnerships, and changes in market supply and demand together form the basis for its potential rise. However, investors still need to be cautious, closely monitor market dynamics, and assess risks reasonably.
LINK-4.08%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 9
  • Repost
  • Share
Comment
0/400
AltcoinHuntervip
· 08-14 07:55
Grip the steering wheel, this wave is not just $50.
View OriginalReply0
Layer3Dreamervip
· 08-13 12:57
theoretically speaking, the zk bridge potential here is insane...
Reply0
BearWhisperGodvip
· 08-11 16:50
I have taken in what you said.
View OriginalReply0
GovernancePretendervip
· 08-11 16:49
It is unlikely to continue the pump, do not chase large orders.
View OriginalReply0
NotSatoshivip
· 08-11 16:47
LINK rise!
View OriginalReply0
FastLeavervip
· 08-11 16:45
The whale caught another alley-oop.
View OriginalReply0
ETHReserveBankvip
· 08-11 16:38
Let's ask, who else dares to shorting link?
View OriginalReply0
StableGeniusvip
· 08-11 16:35
lol as predicted... accumulation phase was mathematically inevitable
Reply0
DeFiGraylingvip
· 08-11 16:33
Already all in on link, waiting to da moon.
View OriginalReply0
View More
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)