Here is the next price target for Chainlink as the token becomes bullish

2022-11-26 23:10

LINK rose by 4% on Friday amid a five-day winning streak

The cryptocurrency faces some resistance at the 50-day MA

Investors should buy on potential correction and target $8

An intraday gain of 4% on Friday was enough to take the price of Chainlink (LINK/USD) to $6.9. The token is clearly bullish since overcoming resistance at $6. The cryptocurrency has printed green candlesticks for the past five days. There are no clear fundamentals for the surge, but expectations around Chainlink 2.0 Economics could be fueling the demand for LINK. What lies ahead?

Chainlink Staking (v0.1), one of the key changes introduced under Chainlink Economics 2.0, is very close. The developers announced that the staking feature would go live on the Ethereum mainnet on December 06. Qualifying addresses can stake up to 7,000 tokens in a capped v0.1 staking pool. The staking pool will then be granted General Access on December 08, 12 PM ET. From there, anyone can stake to the initial cap of 7,000 LINK tokens per address. The staking pool is initially capped at 25 million LINK tokens or 5% of the circulating supply.

The start of staking will allow users to participate in the growth of the Chainlink ecosystem. Users will commit their tokens to smart contracts for rewards. As with most changes, native tokens tend to overperform ahead of the key developments. Potentially, this is the reason LINK is witnessing a bullish surge.

LINK attempting recovery above the moving averages

LINK/USD Chart by TradingView

A technical outlook of the Chainlink token shows it is on a short-term rally. The token’s price has moved above the 20-day moving average. 

A bullish MACD crossover also occurred, with the indicator showing improving momentum. 

Will LINK stay bullish?

The recovery above $6 gives Chainlink a chance to remain bullish in the medium term. However, the 50-day moving average offers resistance. It would be interesting to watch whether bears will force a correction at the 50-day MA. 

A correction would attract buyers as long as the LINK price remains above $6. In the medium term, LINK could rise to find the resistance at $8.

Where to buy LINK

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LINK with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy LINK with Coinbase today Disclaimer

The post Here is the next price target for Chainlink as the token becomes bullish appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

friday chainlink link price potential correction buy

friday chainlink → Результатов: 6


Фото:

Chainlink price feeds are now available on the Solana Mainnet

In a press release issued on Friday, the major oracle supplier Chainlink stated that its pricing oracle networks had gone live on the Solana Mainnet. As a result of this collaboration, developers on Solana will have access to seven distinct Chainlink price feeds, including those for the BTC/USD, ETH/USD, and USDC/USD trading pairs, to create […] The post Chainlink price feeds are now available on the Solana Mainnet appeared first on Invezz.

2022-6-4 22:42