Chainlink Price Prediction: LINK Bounces Up From 50-day SMA

Daily Chainlink LINK Technical Analysis

Last Updated July 23rd 2021
2 Min Read
  • Between April 16 to April 24, the Chainlink price dropped from $42.65 to $31.25.
  • Immediate resistance barrier lies at the 20-day SMA.
  • Between April 16 and April 24, the Chainlink price crashed from $42.65 to $31.25, losing more than $10 in the process. During this downward plunge, LINK flipped the 20-day SMA from support to resistance.

    Chainlink Price On The Verge Of Flashing Buy Signal

    This Sunday, the bulls managed to push LINK up to $32.65. The MACD shows that the overall market momentum is negative. However, the TD sequential detector tells us that LINK is on the verge of flashing a red-nine candlestick - which is a buy signal.

    Image: LINK/USD daily

    link/usd daily chart 042621

    The Chainlink price faces a significant resistance barrier at the 20-day SMA ($36). Previously, at this level, 6,200 addresses had purchased 12.72 million LINK tokens. This level is formidable enough to absorb a lot of buying pressure.

    Image: IntoTheBlock

    link/usd volume chart 042621

    Ethernity To Integrate Chainlink Oracles For Secure Minting and Pricing of aNFTs

    Ethernity Chain, a community platform enabling the issuance of limited edition authenticated NFTs (aNFTs), has recently joined forces with Chainlink to secure the minting and pricing of aNFTs. Chainlink will supply Ethernity with secure external data or computation not native to the Ethereum blockchain. 

    According to an official blog post, the upcoming integration of Chainlink VRF and Chainlink Price Feeds will ensure Ethernity platform the distribution of aNFTs through ePacks is fair and cannot be tampered with. Chainlink will also ensure that the buying/selling of aNFTs is in accordance with fair market exchange rates.

    Ethernity Chain is a community-driven platform for the minting of limited edition authenticated NFTs. aNFTs are created by leading artists and endorsed by celebrities from around the world. Built upon the Ethereum blockchain, Ethernity aims to create the largest collection of aNFTs, specifically so creators can raise funds for charitable causes. 

    Ethernity will be using Chainlink Price Feeds to allow users to purchase aNFT ePacks using various cryptocurrencies. Ethernity noted that the Chainlink Price Feeds are “highly accurate, reliable, secure, and transparent exchange rates that are maintained by Chainlink-powered decentralized oracle networks to prevent any single point of failure.”

    Nick Rose Ntertsas, CEO and founder of Ethernity, said:

    Together with Chainlink, Ethernity will be revolutionizing the digital collectibles space, both in offering real-world assets and allowing access to digital ePacks, where collectors and members of our community alike will have equal opportunity in collecting a number of their favorite notable figures in ways never before seen. Chainlink enables true community access for, all while maintaining the security of the system so the integrity of an aFT’s rarity is upheld.

    Chainlink Price Is Expected To Reach These Levels

    If the buyers take control of Chainlink price, it may push LINK up to the 20-day SMA ($36) level.

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