RWA area’s one of the most powerful players, Chainlink, has been on the rise since the second half of last year. The Swift partnership was a turning point, and the crypto company is now helping more mainstream companies in this regard. Its monopoly in providing price feeds in the DeFi space has been well-known to investors for years. But what will happen to the price?
LINK Coin Commentary
Especially since last year, by opening its staking pool, the team took a significant step to increase the benefits of LINK Coin and looks to the future with hope. The tokenization of real-world assets is targeting a trillion-dollar market, and there are very few partners like Chainlink. Major banks and companies are testing in this area.
Chainlink is striving to make the job easier for all these companies with CCIP. The price journey, which started from single digits and reached $21 today, shows that LINK Coin has successfully emerged from the bear market of the last month.
On March 10th, the price of LINK rose by approximately 8.45% to about $21.84. This price region was last seen in January 2022. An RSI in the 63 region confirms there is enough room for further increase. Data provided by Santiment shows significant positive signals for both social and trade volume for Chainlink.
According to Coinglass data, the status of open positions in futures also supports the continuation of the rally with notable entries in the last few weeks.
LINK Coin Price Prediction
LINK Coin price, which has increased by over 200% in 147 days, started making strong closes above the key resistance of $17.75 earlier this year. Now that the price seems to have permanently surpassed $19.7, it can continue its movement towards the targets of $24 and $29.
If the LINK Coin rally continues strongly, the $34.5 level should turn into support, and the groundwork for a new ATH above $50 should be formed. LINK Coin, which felt the hardship of the 533-day bear market until the week of September 11, has now started its comeback.
Bitcoin‘s price performance will be one of the key factors at this point, and BTC staying above $70,000 could sustain the rally.
