Key takeaways
- LINK is up 2% in the last 24 hours and is now trading above $22.
- The coin could rally above $25 soon if the bullish trend continues.
LINK soars above $22 as integrations continue
LINK, the native coin of the Chainlink blockchain, is up 6.5% in the last 24 hours. The coin is now trading above $22 per coin and could rally higher in the near term. Its positive performance comes as Chainlink’s products have gained massive integration in recent weeks.
On Monday, BNB Chain, one of the world’s largest blockchain ecosystems, adopted the Chainlink data standard to make official U.S. Department of Commerce data available onchain.
The adoption will allow developers to leverage this data to unlock innovative use cases, including: issuance of new types of digital assets, prediction markets leveraging transparent macroeconomic inputs, perpetual futures markets benchmarked to official government data, and DeFi protocol risk management.
LINK to rally above $25 amid bullish momentum
The LINK/USD 4-hour chart is bullish and efficient as Chainlink has performed excellently in recent days. With an RSI of 55, LINK is showing signs of growth and could record further bullish momentum in the coming days.
The MACD lines also crossed into the positive zone a few days ago, indicating that buyers are currently in control of the market. If the bullish trend continues, LINK could surge past the first major resistance level at $25.22. An extended rally would allow it to aim for the August high of $27.60.
However, if LINK undergoes a correction, it could retest the TLQ and support level at $21.488. Failure to protect this level could see LINK decline towards the $20.3 region. LINK is currently bullish, with technical indicators suggesting further upward movement in the near term. The recent major integrations and increased activity within the ecosystem could allow LINK to rally higher over the coming days and weeks.
