Analyst Ali Martinez allowed the possibility of the Chainlink token rate to rise by 41%
According to the expert, the asset is approaching a key resistance area
08.02.2024 - 07:45
254
2 min
0
The material is not an investment recommendation and is published for informational purposes only.
What’s new? Crypto analyst and trader Ali Martinez has said that the rate of the native token of the decentralized network of oracles Chainlink (LINK) is able to grow by 41% from the current marks. According to him, the asset needs to overcome a key resistance level in the range of $19,49 to $20,03 for this to happen.
What else is known? Martinez clarified that approximately 5330 addresses currently hold 8,59 million LINK tokens purchased at prices ranging from $19,49 to $20,03. If the asset manages to overcome this level, it will head towards the next critical resistance area at $26,87.
At the time of writing, LINK is trading at $19,1, having added 4,3% over the day, with a weekly increase of 21,9%, according to data from the CoinGecko aggregator. The current rate is the highest since January 2022.
In November, Yucheng Technology, part of Hong Kong’s largest conglomerate Chow Tai Fook, began working with Chainlink’s team to launch tokenized funds.
That same month, shares of the LINK-based Grayscale investment company’s trust were trading at a 200% premium to the coin itself, indicating a desire of institutions to gain access to it in the only possible way, according to media reports.
Analyst Michaël van de Poppe predicts a 90% increase in the LINK exchange rate
According to him, the price of the asset may rise from $15 to $25-30
In January, bitcoin payment processor BitPay added support for dozens of tokens, including LINK.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 943
BTC
+1.77%
-
Ethereum
$3 383.83
ETH
+8.68%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.41
XRP
+26.36%
-
Dogecoin
$0.395128
DOGE
+3.09%
-
Cardano
$0.884668
ADA
+12.55%
-
Bitcoin Cash
$496.67
BCH
-4.03%
-
Polkadot
$6.24
DOT
+9.98%
-
Stellar XLM
$0.285109
XLM
+19.44%
-
Litecoin
$90.97
LTC
+4.99%