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Chainlink Gains Momentum with Expanding Adoption in DeFi and RWA Sectors. Recent expansion in the DeFi, cross-chain, and real-world asset (RWA) sectors has given Chainlink (LINK) a bullish boost. It is a leading option for safe cross-chain applications because its Cross-Chain Interoperability Protocol (CCIP) currently covers 14 blockchains, including the recently added Ronin Network. Chainlink’s data feeds play a critical role in securing $6.5 billion in total value locked (TVL) within DeFi protocols.
The dependability of Chainlink’s infrastructure was demonstrated recently when Apex Global Group, which manages more than $3 trillion in assets, adopted it to support tokenized financial assets. Additionally, Chainlink’s CCIP was integrated by Lido DAO to enable Ethereum staking from Layer-2 networks. This action highlights Chainlink’s growing impact in liquid staking and could increase Chainlink’s worth in the future.
Key Chainlink Levels To Watch – November 5
The LINK/USD pair is displaying a bullish outlook as it approaches a significant support zone at around $10.340, within a bullish order block. The price is currently trading near the 9-day Simple Moving Average (SMA) of $11.190, which, if surpassed, could indicate further upward momentum.
The Stochastic indicator is oversold, signaling potential buying interest and a possible reversal. If LINKUSD gains momentum, it could target resistance levels at $12.700 and ultimately reach $16.260.
Chainlink Key Levels
Resistance Levels: $12.700, $16.260, $19.190
Support Levels: $10.340, $8.080, $6.000
LINK Metrics
Total Market Capitalization: $2.25T
Chainlink Market Capitalization: $6.61B
Chainlink Volume: $280.60M
Market Rank: #15
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