Chainlink Price Prediction: LINK Bulls Stay In Control For Two Straight Days

Daily Chainlink LINK Technical Analysis

2 Min Read
Last Updated July 23rd 2021
  • Chainlink price bounced up from the lower Bollinger Band.
  • The RSI shows that LINK could jump some more before it gets overbought.
  • Between June 4 and June 22, the Chainlink price crashed from $32 to $17 – losing almost 50% in its overall valuation. During this drop, LINK managed to flip the 20-day and 200-day SMAs from support to resistance. Plus, the parabolic SAR also reversed from positive to negative. Let’s take a closer look.

    Chainlink Price Stuck In A Narrow $0.75 Channel

    On June 23 and June 24, the Chainlink price jumped from $17 to $19. However, the bears immediately retook control and crashed LINK to $17 on June 25. Since then, LINK has been hovering horizontally between the $17 and $17.75 support and resistance levels. The relative strength index (RSI) indicates that the buyers and sellers have been canceling each other out. 

    Image: LINK/USD daily

    LINK/USD daily chart 062821

    The Chainlink price faces major resistance at $17.75. As per the IOMAP, 3,500 addresses had purchased almost 9.5 million LINK tokens at this level. 

    Image: IntoTheBlock

    LINK/USD volume chart 062821

    Sportemon Go to Integrate Chainlink

    Sportemon Go, an interactive gaming platform, recently announced that it integrated Chainlink VRF on Binance Smart Chain to access Provably Fair Randomness within its blockchain-based platform. Chainlink VRF will be leveraged within all Sportemon Go games and competitions to ensure that outcomes reliant on randomness are unbiased and tamper-proof. 

    Additionally, Chainlink VRF will be used as part of the firm's NFT sports trading cards and augmented reality metaverse to facilitate transparent distribution models and generate unpredictable traits and experiences.

    In a blog post, Sportemon Go said that it chose Chainlink because it is built according to leading academic research and supported by a time-tested oracle network that currently secures tens of billions of dollars throughout DeFi. Importantly, Chainlink VRF is an auditable source of RNG, meaning users can independently verify its integrity. The result is all users having an equal chance of winning virtual games and rare collectibles.

    We plan to expand our integration in the future, connecting with other Chainlink data feeds to empower new user experiences like minting NFT trading cards based on individual player stats and generating fan rewards when certain match outcomes occur. 

    Sportemon Go enables users to hunt, find, buy, collect, and trade dynamic NFTs in real-time representing their favourite sporting heroes, both in the physical and virtual world. Sportemon Go says that it has created synergy between the current world and the metaverse, allowing participants to interact with digital NFTs at physical stadiums, sporting events, and virtually anywhere in the world.

    Ricky Jackson, Co-Founder of Sportemon Go, said:

    Chainlink VRF is the best RNG solution in the blockchain industry, as it’s both easy to integrate and independently verifiable to be fair. By using Chainlink VRF, Sportemon Go can create truly unbiased and unpredictable gaming experiences for users with high integrity guarantees, revolutionizing how sports players, teams, and fans interact with another and exchange value.

    Chainlink Price Is Expected To Reach These Levels

    The buyers will need to push the Chainlink price above the $17.75 and $19 resistance levels. Following that, if the buyers overtake the 20-day SMA, they will successfully reverse the parabolic SAR from negative to positive.

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