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
200
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?
Incidents
Scammers took advantage of the former US president’s recent announcement of a real DeFi protocol
Sep 4, 2024
Technologies
The upgrade is aimed at implementing a new decentralized project governance system
Sep 2, 2024
Incidents
The company placed $2б4 billion in bonds maturing in 2026, but their value has fallen dramatically since the entrepreneur’s arrest
Aug 30, 2024
Incidents
In both cases, depending on the outcome of the investigations, the messenger could be blocked
Aug 29, 2024
Market
The project will offer a decentralized alternative to traditional banking services
Aug 29, 2024
Trends
Within a week of its launch, the platform managed to overtake its main competitor, Pump.fun on the Solana network
Aug 28, 2024