Oracle Service Chainlink’s (CONNECTION) Native token rose 10% on Tuesday to a fresh seven-month high in the middle of new traditional financing partnership and a recent buy-back initiative.
The token peaked $ 24 for the first time since February and expanded its rally to 42% in a week. It is the biggest gain under the top 50 tokens at market value, Coindesk data shows.
Among the catalysts was a new collaboration between Chainlink and Intercontinental Exchange, the parent company of the New York Stock Exchange, to bring prices for currency and precious metals. The partnership emphasizes the network’s growing role as a bridge between traditional financing and blockchain rails.
A token purchase program called Chainlink Reserve, which was announced last week in a blog post, aims to convert revenue from Chainlink’s services and corporate integrations to link symbols and establish renewable sales moments.
Technical indicators The signal continued upside down
- Link now deals with its 50-day and 200-day moving average, validation of bullish momentum, Coindesk’s market analysis model showed.
- Short -term resistance emerged near $ 24 with support around $ 21.00- $ 21.30.
- Relative strength index (Rsi) Measurements are approaching overbought conditions at 72.72, which indicates the potential of consolidation in the short term.
- A crucial breakthrough over $ 24,10- $ 24.13 The resistance zone could trigger the subsequent rally phase.
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