BlockchainChainlink (LINK)CryptocurrencyNewsPrice Analysis

Chainlink Collaborates with AP – LINK Plans 50% Surge

Briefly –

  • Chainlink trades beyond the critical barrier at $29.8 as it confirms an upcoming surge.
  • A significant close past $33.2 will also strengthen the start of another bullish run.
  • Associated Press (AP) will use the LINK network to store race, economic, and sports data.

Chainlink had its price struggling after the 19 May crash. The altcoin has stayed under a critical barrier since then. Meanwhile, the alternative coin appears to coil up to challenge this obstacle before triggering another upswing.

Associated Press Utilizes LINK Blockchain Abilities

Associated Press will use the Chainlink blockchain to store crucial data. The official announcement pointed that developers will use the crypto network to create applications to access the data through Chainlink nodes.

Meanwhile, users might use the data to create fantasy games and on-chain sports apps. Also, traders that need information can automate their activities with the development. AP trust that’s that blockchain technology is vital in solving our day-to-day challenges.

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On the other side, Billionaire Bunny Club uses Chainlink’s VR to airdrop random Bunny non-fungible tokens via RNG (Random Number Generator). That will make the process transparent, exciting, and fraud-proof for participating individuals.

LINK Prepares a Surge

LINK has maintained its price movements below the 50% IB retracement at $33.2 for over five months. For now, the altcoin coils up to rise beyond the level. Furthermore, INK bulls challenged the supply territory that ranges between $27.01 and $29.80, confirming market structure shift, favoring bulls.

Chainlink will retain its bullish sentiments if the altcoin stays beyond the $29.80 level. Meanwhile, a significant-close past $33.2 will also confirm another upsurge and catalyze a move to the 70.5% FIB retracement at $41.35. Such a move will translate to a 36% upswing. However, extending its surges to overcome the obstacle at $44.73 will mean a 50% LINK price upwelling.

If LINK fails to maintain over the demand area from $27.01 – $29.80, market participants might forget about the optimistic narrative above. Such scenarios might take Chainlink lower, retesting the support at $25.40, a level where it might kick-start a new surge.

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James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

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