Chainlink Bullish After Celo Network Integration

Chainlink is bullish after Celo network integration. Today, Ethereum layer-2 network Celo made it known that it had integrated Chainlink’s CCIP protocol to improve cross-chain interoperability. Eric Nakagawa, Celo’s executive director, stated that CCIP’s level 5 cross-chain security will significantly enhance the development of the Celo ecosystem.

#Chainlink SCALE partner @Celo has integrated Chainlink CCIP as its canonical cross-chain infrastructure.

See how Chainlink is accelerating innovation across Celo’s blockchain ecosystem: https://t.co/slyak7E118 pic.twitter.com/72RPLCy3Cj

— Chainlink (@chainlink) May 29, 2024

This integration represents a notable milestone for Chainlink, establishing it as a key player in blockchain interoperability, especially as the sector shifts towards real-world asset tokenization. By facilitating the connection of $874 trillion worth of real-world assets across various platforms, Chainlink can solve liquidity challenges, signaling a bullish outlook for LINK investors.

Key Chainlink Levels to Watch – May 29

A bearish order block formed at the $20.000 price level as the market experienced a crash to the downside in April 2024. As the price rallies, the bearish order block is likely to cause a short-term pullback.

However, according to the SMA (Simple Moving Average), the market’s order flow is bullish. The bullish trend is likely to resume around $17.000 as the price bounces off a bullish order block in the $16.260 demand zone.

Chainlink Key Levels

Resistance Levels: $20.740, $22.880, $25.000
Support Levels: $16.260, $12.540, $9.700

LINK Metrics

Total Market Capitalization: $2.52T
Chainlink Market Capitalization: $10.89B
Chainlink Volume: $598.54M
Market Rank: #13

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