Chainlink (LINK) Sees Bullish Sentiment Following Its Strategic Collaboration

Azeez Mustapha

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Chainlink (LINK) sees bullish sentiment as it makes a strategic collaboration. This collaboration integrates Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Proof-of-Reserve (PoR) on the Arbitrium mainnet, ensuring transparent backing of dlcBTC. Users benefit from seamless asset transfers and enhanced DeFi accessibility.

Chainlink’s PoR prevents over-issuance by approving collateralization in real-time, bolstering confidence in dlcBTC’s reserves. With CCIP supporting nine blockchains, Chainlink strengthens its role in DeFi infrastructure. This integration enhances utility and adoption prospects for Chainlink (LINK), reflecting its growing importance.

Chainlink (LINK) Sees Bullish Sentiment Following Its Strategic Collaboration

The LINKUSD pair indicates a bullish reversal, supported by recent technical signals. The price has rebounded from the significant support level at 12.540, as shown by the green arrow, suggesting a potential bottom.

The Stochastic RSI is emerging from the oversold territory, crossing upwards, often preceding a bullish move. Overall, the formation of the order block (OB) and the successful retest of the support level point towards a likely continuation of the upward movement.

Resistance Levels: $20.7400, $22.8800, $25.0000
Support Levels: $16.2600, $12.540, $9.7000

Total Market Capitalization: $2.36T
Chainlink Market Capitalization: $8.35B
Chainlink Volume: $371.80M
Market Rank: #14

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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