• Bulls back to raise the price of LINK
• The price may soon test the critical level of $ 20
• New DEFI projects maintain positive outlook for parts
Chainlink (LINK) was one of the main victims of the bloodshed market cryptography in June. After peaking in early May $ 50, the price fell to $ 16.50 in mid-June. The bearish sentiment persisted until a few days ago when a rally began with the price hitting around $ 19.20 on June 24. A slight reversal occurred in the last 24 hours, the price dropping to $ 18.65.
LINK strengthens its references with new partnerships
Chainlink has recently gained in reputation thanks to two new partnerships. Glitch Finance and Lever have both announced that they have signed agreements with Chainlink to leverage its Oracle solutions. Glitch focuses on improving the DeFi landscape and dApps. Lever should use LINK to ensure the security of its margin and lending platform.
Chainlink Price Feeds is an innovative solution that provides price data for a number of cryptocurrencies in a secure manner. The information is then validated chain for market coverage and resistance to market volatility.
“The GLITCH blockchain protocol provides developers with a highly scalable, low-cost Proof of Stake (DPoS) network to start building the next generation of smart contracts.”
The launch of the decentralized exchange of Glitch allow Oracle solutions Chainlink to play a central role. The integration should provide a proven infrastructure to leverage the data and calculations off-line, according to the press release.
Lever, who is an Automated Market Maker (AMM), also announced the integration of Chainlink into its decentralized margin trading platform. This collaboration allows Lever to issue loans, verify the conditions of limit orders, verify open margin positions and assist with collateral.
On their selection of flow rates Chainlink Sunrise says it is “both accurate and reliable under extreme conditions. It also ensures that users are protected against exchange downtime, flash crashes and data manipulation like flash loan attacks ”.
Chainlink Price Prediction: LINK to Test $ 20 Levels
Although LINK crashed a whopping 30% between June 20-22, there seems to be a positive sentiment towards this coin. It is still up 27% from its low and should not revert to a higher low for a new uptrend to begin.
If this uptrend begins, it looks likely that LINK will rise around 20% to test the $ 21 retracement level. Resistance appears at 21.65, but a break out of the $ 21.59 mark should see bulls entering the market to push the price above the $ 24 mark. He should probably settle at $ 25.20 before meeting a new strength and a possible retracement. However, the general outlook looks bullish after weeks of steady decline.
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