Bittime - Chainlink (LINK) has had a strong showing over the past week, with the token price surging 21.3% in the past seven days.
Several analysts shared their predictions and thoughts on LINK, suggesting to keep a close eye on this token and its long-term performance.
Where is LINK's next big step?
Recently, Chainlink announced its partnership with blockchain platform Avalanche and Australia and New Zealand Banking Group (ANZ) to connect the Avalanche and Ethereum blockchains using Chainlink's Cross-Chain Interoperability Protocol (CCIP).
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NewsBTC analysis
According to NewsBTC, the partnership aims to facilitate “seamless access, trading and settlement of tokenized assets across the network in different currencies through a process called Delivery vs. Payment (DvP).”
The crypto community seems to welcome the news. [X] social media users expressed their positive sentiment towards the collaboration and Chainlink token.
This sentiment appears to have had an impact on LINK's performance, as the token price jumped 9% in the last 24 hours.
Also Read: What is Chainlink (LINK) and how does it work?
Analysis of The Lord of Entry
Crypto analyst and trader The Lord of Entry shares his predictions for LINK. In [X's] post, the analyst highlighted that the token's performance in the last day was strong as it managed to break through the $18.5 resistance level . Previously, Chainlink failed to cross this resistance zone several times after falling below it on March 18.
After successfully surpassing the price of $18.5 , the token continued its uptrend throughout the day.
Early Tuesday, LINK surged above $20 but faced resistance near the $20.5 range .
According to the analyst, if the token can break this level and turn it into a support zone, the next big target for LINK will be the $28 price range.
Also Read How to Buy Crypto:
Current Price of Chainlink (LINK).
According to the Bittime.com market, currently (27/03/2024) the price of 1 LINK to IDR is IDR 310,567 and has increased by more than 9% over the last 3 days.
LINK's "Very Strong" Long-Term Performance
Despite failing to break resistance, LINK price jumped 9% in the last 24 hours. Interest in the token appears to be increasing as its market activity rose 55.19%, reaching a daily trading volume of $539.9 million.
Its market capitalization also increased by 8.16% in the past day, reaching $12.02 billion.
According to CoinMarketCap data, Chainlink ranks as the 14th largest cryptocurrency based on this metric.
Additionally, LINK has shown an incredible performance of 182.6% in the last year. As a result, crypto analyst Altcoin Sherpa shared some notes on LINK, advising against actively trading it. Sherpa stated that this token is better suited to a “buy and hold” strategy because it is a “safe asset that will produce strong numbers.”
The analyst considers LINK's fundamentals to be "very strong" and it is one of the best tokens based on its long-term performance.
Ultimately, Sherpa predicts prices will "consolidate a bit longer before moving forward."
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How to Buy Chainlink (LINK) on Bittime
You can buy and sell Chainlink (LINK) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Chainlink (LINK) is available on Bittime with the market pair LINK/IDR . To be able to buy IDR LINK on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Chainlink (LINK) on Bittime .
Monitor price chart movements of Chainlink (LINK) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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