Chainlink’s LINK Rises 13% Following Mastercard Partnership Announcement
Chainlink's native token, LINK, increased by over 13% to a high of $13.51 within 24 hours. This rise follows easing tensions in the Middle East, contributing to a recovery across the crypto market, where 98 of the top 100 tokens saw gains and Bitcoin rebounded to $106,000.
LINK notably outperformed Bitcoin's 2.8% gain and the CoinDesk 20 Index's 5% increase. The token's surge coincided with Chainlink's announcement of a partnership with Mastercard, enabling over 3 billion cardholders to buy cryptocurrencies directly on-chain.
Technical Analysis
- LINK established an uptrend with higher lows and highs, breaking resistance at $12.50 on high volume.
- Support is solid between $12.85 and $13.00, confirmed by multiple tests with above-average volume.
- Momentum indicators indicate continued bullish sentiment and potential for further upside.
- The $13.30-$13.35 zone should be monitored for profit-taking activities.