Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?<\/a><\/div>\nLINK now trades above the 50 and 200-day price levels, indicating a strong bullish momentum in the market. If the ongoing buy frenzy continues, LINK could reclaim the year-high of $8.898, recorded on November 7, 2022. And if the buying strength continues to increase, the token could even set a new record high in the coming days.<\/span><\/p>\nHowever, while LINK has regained over 21% of its past month’s gains in the ongoing rally, the token remains 9% down from its year-high, and he bulls must increase momentum for the token to reclaim this level. <\/span><\/p>\nFeatured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"excerpt":{"rendered":"
The crypto market cap has declined over 1% in the last 24 hours, transmitting losses across the market. Top coins like Bitcoin and Ethereum have taken the hit, losing 3% and 4% of their past week\u2019s gains, respectively.\u00a0 However, Chainlink (LINK) resisted the prevailing bearish market forces amid this onslaught, holding 6.51% gains on the weekly chart. Also, the token has recorded a 1.68% price increase in the last 24 hours.\u00a0 Related Reading: Will Bitcoin Drop To $20,000? EURUSD Correlation Indicates It Might Amid the upturn, LINK has broken past the $7 price mark; could it ride the prevailing bullish waves to record new highs? Let\u2019s find out.\u00a0\u00a0 ChainLink\u2019s Daily Active Addresses Hits A 2-Month High\u00a0 LINK\u2019s price uptick comes amid a significant increase in active unique addresses on the network. Data from leading on-chain analytics firm Santiment shows that Chainlink’s unique addresses exceeded 3,900 for the first time since July 21.\u00a0 Furthermore, this uptick indicates increased network activity and engagement, reflecting the rising community interest and involvement. Moreover, increasing unique active addresses is often synonymous with increased usage and adoption of the network’s native token, LINK.\u00a0And this could be seen in the increase in LINK\u2019s market value over the past seven days.\u00a0 In addition, an update on Chainlink adoption shows four of the network’s services integrated across six different chains. These chains include Arbitrum, Avax, BNB Chain, Etherem, Optimism, and Polygon.\u00a0 Again, these integrations further reflect a wider usage of the LINK token and increased participation in the Chainlink ecosystem. It shows that more people are adopting Chainlink, exerting a higher buying pressure on LINK, a plausible explanation for the ongoing price uptick. Chainlink (LINK) Breaks The $7 Resistance; What\u2019s Next? The daily LINKUSD chart below suggests that LINK is gearing up to hit $8 as it conquers critical barriers while buy pressure remains high. After posting notable gains over the past eight days, LINK trades above two key support levels, $5.72 and $6.595. The token’s price oscillated between these key price levels from mid-August to September 18.\u00a0 Meanwhile, all this time, LINK traded below two critical points, the 200-day and 50-day moving averages ($6.488 and $6.706), before a sharp spike pushed it above $6.8. It maintained the momentum through the past few days, breaking the $7.00 barrier, and now targets the $7.8 resistance level. Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again? LINK now trades above the 50 and 200-day price levels, indicating a strong bullish momentum in the market. If the ongoing buy frenzy continues, LINK could reclaim the year-high of $8.898, recorded on November 7, 2022. And if the buying strength continues to increase, the token could even set a new record high in the coming days. However, while LINK has regained over 21% of its past month’s gains in the ongoing rally, the token remains 9% down from its year-high, and he bulls must increase momentum for the token to reclaim this level. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":622,"featured_media":552776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[16298,1558,87162,82825,75940],"class_list":["post-552772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-chainlink-link","tag-cryptocurrency","tag-link-analysis","tag-link-price","tag-linkusd"],"acf":[],"yoast_head":"\n
Chainlink Spikes 10% On Weekly Chart As Market Sees Correction<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n