● Entry point: Consider accumulating near $14, where the token is consolidating around the $13 - $14 region.
● Stop loss: Place a stop loss at $11.20, protecting capital in case of a breakdown below structural support.
● Take profit: Target $18.36, aligned with technical resistance and reflecting a potential 31% upside.
● It powers over $9 trillion in transaction value across 900+ projects.
● Chainlink has over 80% market share for DeFi data feeds and is used by major protocols like Aave.
● The Society for Worldwide Interbank Financial Telecommunications (SWIFT), a global banking network, is using Chainlink to connect banks to blockchains.
● The Depository Trust and Clearing Corporation (DTCC), which handles almost every US stock trade, is piloting Chainlink to bring mutual fund data on chain.
● Central banks like Brazil are testing Chainlink to automate their digital currencies for trade and finance.
Uptrend reversal confirmed: The price recently broke out of a falling wedge and formed a higher low at $11.20.
Momentum signal: The moving average convergence divergence (MACD) crossed bullish, and the relative strength indicator (RSI) is trending upward toward neutral territory, suggesting more room for price strength.
● Market sentiment volatility: LINK is still a crypto asset and may remain highly correlated with overall market sentiment, especially Bitcoin and Ethereum.
● Regulatory uncertainty: Any adverse rulings in the US regarding crypto classification could delay adoption or potentially raise compliance costs.
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** This article was prepared by BROKSTOCK analyst Maboko Seabi