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Chainlink (LINK) Continues Strong Performance in Q4
As Bitcoin struggles below $35,000, altcoins like Chainlink have maintained steady gains. Chainlink has surged 68% over the past month, reaching $12.89 on Tuesday. It is popular among both retail and institutional investors due to its use as a price feed oracle platform for blockchains and smart contracts, as well as for tokenizing real-world assets and integrating AI with blockchain. The token has over 1 million Twitter followers and has seen a 2.4% increase in market value in the last 24 hours according to CoinMarketCap.
LINK’s Market Status
Chainlink currently ranks #12 among cryptocurrencies with a market capitalization of $7.2 billion. Its trading volume has surged by 20% to $839 million, showing strong investor interest.
Positive Outlook for LINK Price
Chainlink’s recent rally has attracted traders looking for scalping opportunities, while both retail and institutional investors are optimistic about its future. The token’s price is currently above key bull market indicators, indicating a promising outlook.
Predicted Price Movement
The immediate seller congestion zone at $13 may slow down price gains, but with MACD supporting a bullish trend, LINK is expected to push towards $20 rather than dropping below $10. Traders may consider locking in gains at $18, which previously acted as resistance in April this year.
Rollup Finance Joins Chainlink BUILD
Rollup Finance has partnered with Chainlink BUILD to access its oracle services and technical support, enhancing the security and user experience of the decentralized perpetual derivatives trading exchange. This collaboration will also make Rollup Finance’s native token supply available to Chainlink service providers.
Hot Take: Expert Analysis on Chainlink Performance
John, an experienced crypto expert at CoinGape Media, provides valuable insights into the digital asset market. He predicts price trends and market forecasts using his extensive knowledge of on-chain data analytics, NFTs, DeFi, CeFi, and the metaverse landscape. While his opinion is included in this content, it’s essential to conduct your own market research before investing in cryptocurrencies.
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