Chainlink (LINK) Rallies Before Staking v0.2 Release - Can Price Push Toward $20?
The release of Chainlink staking v0.2 will be on November 28. The LINK price initiated a bounce on November 14....
- The Chainlink (LINK) price has fallen slightly since reaching its yearly high of $16.60 on November 11.
- The price increase accelerated after breaking out from the $9 resistance area, with four bullish weekly candlesticks.
- LINK is compared to a decentralized version of an AWS platform, offering features like Data Streams, Data Feeds, and Proof of Reserve.
- The Chainlink team announced that 70 projects are now part of the build program, with enhanced access to Chainlink services and technical support.
- Chainlink Staking v0.2 will launch on November 28.
- Technical analysis suggests that LINK is in wave four of a five-wave upward movement, with a potential bottom near the $12.50 support level and a target at the long-term resistance of $19.50.
- Failure to bounce at the $12.50 support level could lead to a 30% drop to the $10 support level.
The sentiment in the article is generally positive, with discussions about the price increase, the potential for further growth, and the positive developments within the Chainlink ecosystem.