Chainlink (LINK) recently announced a new partnership with Blueberry, which is expected to revamp and improve the network building and LP strategy. Through this partnership, Blueberry is designed to provide network incentives and rewards. LINK rate down 0.85%
Partnerships with Blueberry Build Consumer Trust
Crypto experts expect the correlation to turn Bullish before the end of the year. According to data from Coingecko, the price of LINK has fallen 7.5% in the last seven days and is trading at $5.55 at the time of this writing.
Technical indicators indicate that the coin has lost at the level of $ 6, which may indicate a bearish signal. If the bulls fall above $6, it could be a big challenge for Chainlink.
The Bull Market is Moving to Get Prices Above $6
On the plus side, LINK bulls are quick to bounce back whenever the price drops. When prices fall below critical levels, buyers take immediate action to save the position. In this case, breaking the $6 level would be a great achievement, especially to usher in the new year. But, LINK should go up. Michaël Van De Poppe, a crypto expert, expects LINK to enter bullish territory by 2023.
In general, it is expected that the crypto will hit $17 if the bull reaches the stoppage level of $7.80. On the other hand, the crypto analyst says that Chainlink may fall and heat up below $5 before its price rises. At press time, LINK was trading between $6 and $8. Given this, any damage below this limit can cause the LINK to go down. As expected, the bulls will take over once digital assets break through this frontier.
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Chainlink Effect is Positive, Consumer Interest is Increasing
Selling pressure is building on LINK as its RSI is pointing close to the oversold zone, indicating a large number. The bullish pressure rises every time the crypto goes down because it is expected to fall further below the support level.
Whale interest has increased in Chainlink. In fact, LINK is said to be one of the ten most bought cryptos in the last 24 hours. This is surprising because LINK has not made much profit in the past week, but the confidence in the buyer has.
Understandably, whales are excited about LINK as the show suggests high prices in the next few days or before the end of the year. Despite the slowing down of Chainlink’s development work, positive sentiment for the coin has increased significantly.
