LINK Price Climbs 4% Following Chainlink’s Launch of Data Streams
The price of LINK increased by 4% on Monday, reaching $17, a nearly 10% rise from weekend lows. This rebound follows the recent market downturn.
Key developments include:
- Chainlink launched a market data feed for U.S. Equities and ETFs, providing real-time pricing across 37 blockchain networks.
- This feature supports tokenized stock trading, perpetual futures, and synthetic ETFs.
- Protocols such as Kamino and GMX have begun utilizing this service.
Technical analysis indicates strong bullish momentum:
- LINK rose from $16.16 to $16.87 over 24 hours, reflecting a 4.39% gain.
- Support is established at $16.11 and high-volume support at $16.29.
- Resistance is noted at $16.87 with confirmation from trading activity.
- A volume spike occurred at 1,533,754 units during peak trading times.
- A breakout pattern was confirmed between $16.65 and $16.83, establishing new support levels.
- Higher lows indicate ongoing bullish sentiment.
- Volume above 30,000 units during key phases supports upward price action.