Last Friday the price chainlink (LINK) fell as short-term traders took advantage of LINK’s gains following the announcement of U.S. government assistance in putting economic data on the blockchain.
This event was an optimistic signal not only for LINK owners but also for the entire cryptocurrency market. However, the fall was expected, as investors sold their assets and thus provoked a decrease in the price.
chainlink — Is Block RWA, which is gaining popularity thanks to emerging ideas of tokenization. Cardano also offers an ideal place to host Wall Street assets on the ADA blockchain.
Despite the short-term decline, cooperation chainlink with the US government could still send LINK’s value soaring. It’s expected that within days token will rise to $25 and above.
On the daily chart, LINK is trading around $23 after breaking out of a multi-year consolidation wedge. This move could mark the beginning of a much larger rally. The altcoin’s RSI is at 52, signaling bullish control and plenty of upside potential.
MACD LINK is leveling off, which also hints at a change in momentum. Analysts suggest that LINK has a chance to return to the $50 level and set a new all-time high. Once it reaches this level, it could open the way for a larger breakout to $150.
Potential approval for Spot ETF chainlink LINK could lead to a sharp rise in the asset’s value this year, despite the fact that the US Securities and Exchange Commission has again delayed decisions on several cryptocurrencies ETF, chances of approval LINK and XRP ETF remain high.