● 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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*Any opinions, views, analysis, or other information provided in this article is provided by BROKSTOCK SA trading as BROKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BROKSTOCK SA does not warrant the correctness, accuracy, timeliness, reliability, or completeness of any information provided by third parties. You must rely upon your judgement in all aspects of your investment decisions, and all decisions are made at your own risk. BROKSTOCK SA and any of its employees shall not be responsible for and will not accept any liability for any direct or indirect loss, including, without limitation, any loss of profit which may arise directly or indirectly from the use of the market commentary. The content contained within the article is subject to change at any time without notice. BROKSTOCK SA is an authorised financial services provider - FSP No. 51404. T&Cs and Disclaimers are applicable: https://brokstock.co.za/
** This article was prepared by BROKSTOCK analyst Maboko Seabi
