Chainlink (LINK) is among the most popular projects in the cryptocurrency markets and has started to attract more attention as of October. The increasing excitement in the RWA sector has been a good price catalyst for LINK Coin. So, how far will the ongoing double-digit rise continue? Here’s what LINK Coin investors are curious about, along with current data and predictions.
LINK Coin on the Rise
BTC‘s price volatility notwithstanding, LINK Coin’s price is recovering. The RWA sector is expected to transform into a trillion-dollar ecosystem, with major financial institutions making their presence felt. With its CCIP product and Swift partnership, Chainlink is among the favorite projects in this area.
Currently serving almost all popular DeFi protocols with crypto price feeds, Chainlink has been accumulating experience in this field for many years. Chainlink, with significant partners like Swift, is expected to maintain a serious market share in the RWA sector compared to its alternatives.
Just as Ripple is making significant efforts in the CBDC sector and providing consultancy services, Chainlink is also striving to do the same in the tokenization of real-world assets and has a significant number of long-term investors.
Moreover, the team that strengthens its role in the working mechanism to increase the benefit of LINK Coin has enabled a vast amount of assets to be staked by opening LINK pools. The potential for expanding this pool and partnerships expected to be extended in 2024 are reasons for the current demand to be on solid ground.
LINK Coin Price Prediction
We had previously discussed that if the key $12 region is defended, a rapid rise could continue. The price began trading in a parallel channel with the rise on November 5th. Although it has targeted the resistance zone of this channel a total of 5 times, this is the first time it is running into resistance so strongly.
If the LINK Coin price can close above the $17.82 region, it could reverse the decline from early 2022 and target the $28.7 and $35 regions again. In the short term, the maintenance of $16.76 is important, and an acceleration of the rise and overcoming resistance in the coming hours is likely.
However, if sellers step in at the resistance zone that has been tested many times and push the price back down, a decline towards $16 and $14.5 could continue. In an oversold environment, a spike to the channel’s support line at $12 could occur.
