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Will LINK have a bullish reversal?

Blockchain offers more security, trust and decentralization, but it faces a problem. You cannot retrieve and transfer information about real-world problems, and Chainlinks offers a solution.

Chainlink helps bridge the gap between the real world and on-chain data. This blockchain “intermediary” has created an oracle that provides essential information such as events, results, price actions, and links to traditional systems. This means that you can do everything with the help of this decentralized system.

Sergey Nazarov and Steve Ellis invented it. In September 2017, it raised $32 million in the initial coin offering. In 2019, LINK was launched on the Ethereum mainnet.

Typically, real-world data can be manipulated before transferring it to the mainnet, but Chainlink minimizes the risk of data manipulation by verifying it in three different ways:-

  • Breakdown of data sources
  • Diffusion of oracles
  • Use of trusted hardware

Chainlink developers have worked on the system to make it more secure. They acquired Towncrier to add an extra layer of security to “trusted runtime environments”. Chainlink has a partnership with SWIFT and Google in the real world.

They also have partnerships with Synthetix and Polkadot from the crypto world. Real money can be transferred via SWIFT via Chainlink. The collaboration of Chainlink and SWIFT offers seamless interaction between the on-chain and off-chain worlds.

The company is very interesting with huge potential for future growth. If you want to invest for the long term, be sure to read this price analysis.

LINK was trading around $7.2. It consolidated between $6 and $7.92. On the daily chart, the MACD indicator gives neutral momentum and the RSI is around 50.

Candlesticks also form around the base line of the Bollinger Bands. This means that the Chainlink price is not bullish in the short term.

Chainlink Price Analysis

In the long term, the LINK coin is bearish. The candlesticks entered the lower half of the Bollinger Bands from December last year. After that, he did not cross the baseline. It will face strong resistance around $15 and will not break through this year.

The market is very volatile, so we do not suggest trading in the short term. Start investing with the amount you can afford to lose.