Big congratulations to all who followed our August Coin Pick! You’ve now gained an impressive 50% on Chainlink (LINK). Our research team has uncovered more Coin Picks with double or triple digit upside potential!

ChainLink (LINK) was our recent research Coin Pick and is up 50% since our initiation report (August 2023). It’s approaching our target of $13.25. As a leading Oracle data provider, it is benefiting from the long-term trend in tokenization of real-world assets (RWA) like US T-Bills. We have unlocked the LINK report to all registered users! Read report here.

What is Chainlink (LINK)?

Chainlink is a pioneering decentralized oracle network that connects blockchain smart contracts with real-world data. Launched in 2017. It solves the “oracle problem” by allowing smart contracts to access off-chain information, making them more versatile and powerful. The LINK token, native to Chainlink, serves as a crucial incentive for node operators to provide accurate data and is also tradable on cryptocurrency exchanges.

Chainlink is used across various industries, including DeFi, insurance, and gaming, enabling applications like calculating interest rates, automating claims processes, and ensuring fair gameplay. With the introduction of the Cross-Chain Interoperability Protocol (CCIP), Chainlink is poised to bridge the gap between traditional finance and the blockchain world, attracting professional and institutional players to the crypto space.

Chainlink (LINK) Technical Analysis

Trade Setup: Price is in a clear uptrend. ChainLink (LINK) has surged 50% since our August 2023 initiation, benefiting from its role as an oracle data provider amid the trend of tokenizing real-world assets. After bouncing off $6.00 long-term support, it crossed the 200-day moving average (~$6.70) and surpassed our $9.50 target for a 50% gain. However, the price is now overbought (RSI > 80) and near resistance at $11.00, suggesting a consolidation phase. To confirm a sustainable uptrend, watch if it remains above the $8.50 key level (set a price alert).

Trend: Strong uptrend across short, medium, and long-term.

Momentum: Bullish but extremely overbought (MACD Line > MACD Signal Line, RSI > 80), indicating a possible pause or pullback near resistance.

Support and Resistance: Nearest Support at $8.50 (previous resistance), then $6.00. Nearest Resistance at $9.50, which has been broken.