Chainlink Price Rises 5.5% as Swift Advances Tokenization Plans
- Price Surge: Chainlink's price increased by 5.5% to nearly $12.58 as Swift advanced its tokenization plans, with daily trading volume expanding by about 20%, indicating renewed market interest in infrastructure-focused digital asset projects.
- Strategic Collaboration: Swift's blockchain ledger project involves cooperation with over 30 banks to integrate tokenized assets into existing financial settlement processes, with Chainlink playing a crucial role, thereby enhancing its relevance in the regulated blockchain solutions market.
- Reserve Growth: Chainlink has added over 92,000 LINK tokens this week, raising total holdings to approximately 1.23 million tokens, valued at about $15.3 million, reflecting a strong commitment to ecosystem development.
- Technical Support: Chart patterns indicate that the LINK token has formed a double bottom near $11.77, with prices remaining above key support levels, suggesting that rebound scenarios are intact and potentially setting the stage for future price recovery.
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Technical Analysis for LINK
Technical Sentiment Analysis for Chainlink (LINK) As of , Chainlink (LINK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for LINK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, LINK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Chainlink (LINK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 3.529 | 5.34 | 7.219 | 9.03 | 10.909 | 12.72 | 14.599 |
| Fibonacci | 5.34 | 6.749 | 7.62 | 9.03 | 10.439 | 11.31 | 12.72 |
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