Convergence

Franklin

Show

Chainlink

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlink-tests-show-promising-advancements" rel="noopener noreferrer nofollow">Chainlink Tests Show Promising Advancements</a><br></p>
<p style="text-align: justify">Chainlink (LINK) is currently navigating a price range between $13.08 and $16.00. However, <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">recent developments</a> suggest that the decentralized information processing platform might have more upward potential. The recent price surge adds weight to this speculation.</p>
<h2 id="what-do-successful-tests-indicate">What Do Successful Tests Indicate?</h2>
<p style="text-align: justify">Recent tests conducted with DTCC and prominent US <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">banking</a> institutions signal significant potential for Chainlink. The successful completion of these tests, involving companies like American Trust Custody, Edward Jones, and JPMorgan, aims to expedite the tokenization of assets. The collaboration includes major players such as Franklin Templeton and BNY Mellon, paving the way for notable advancements.</p>
<p style="text-align: justify">These tests enabled Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to act as an abstraction layer among multiple blockchains, facilitating integration with DTCC now and in the future. Co-founder Sergey Nazarov highlights the significance, noting that key market participants are solving real-world problems by integrating blockchains, smart contracts, and Oracle networks.</p>
<h2 id="link-price-surpasses-15-what-s-next">LINK Price Surpasses $15: What’s Next?</h2>
<p style="text-align: justify">Chainlink’s price surged by 10% in the past 24 hours, supported by <a href="https://en.bitcoinhaber.net/bitcoin-anticipates-steep-correction-as-market-analysts-project-price-decline" rel="noopener noreferrer nofollow">Bitcoin</a>‘s stability above $65,500. Indicators such as the Relative Strength Index (RSI) above 50 and the Moving Average Convergence Divergence (MACD) above the signal line suggest a bullish trend in the LINK market. This positive momentum could lead to further price increases if sustained.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors should note the following insights:</p>
<ul>
 <li>Chainlink’s successful tests with DTCC and major banks could lead to significant breakthroughs.</li>
 <li>The current technical indicators suggest a bullish trend for LINK.</li>
 <li>Overcoming the $16.863 resistance level could transform it into support and attract more buying interest.</li>
 <li>Potential price targets include the $20.702 barrier if bullish momentum continues.</li>
 <li>Be cautious of potential consolidation if <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> start cashing in their gains.</li>
</ul>
<p style="text-align: justify">If the Chainlink price faces consolidation due to profit-taking, it could drop. A decisive candlestick closing below $13.080 might raise concerns among investors. However, the upward potential remains strong if the bullish trends sustain and overcome key resistance levels.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlink-tests-show-promising-advancements" rel="noopener noreferrer nofollow">Chainlink Tests Show Promising Advancements</a></h5>

Chainlink Tests Show Promising Advancements

Table of Contents

BH NEWS

Other articles published on May 17, 2024

Is Crypto market in mood to hit new high, Stablecoin data reveals this

Binance and Taiwan regulators curb $6.2m money laundering ring

LOOM Network and Arweave (AR) Crypto Prices Pumping, Here’s Why

Spartan Group Nets $1.41M Profit from Chainlink (LINK) Surge

Blockchain gaming investments reached nearly $1B in April

Chainlink (LINK) Rallies After Launching Research with Top Finance Industry Bodies

Join our free newsletter for daily crypto updates!