Chainlink Partnership & Address Surge: A Bullish Sign for LINK Price or 20% Crash?
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LINK price forms an ascending triangle, suggesting a potential rally to $12.2 amid new partnerships. Chainlink network activity spikes 134%, signaling increased adoption.

LINK price plunged 2% to $10.36 during the U.S. trading session on Wednesday, continuing its week-long consolidation. A series of alternate green and red candles hints that there is no clear initiation from the buyers or sellers at the moment, waiting for a profound signal.

Will the recent surge in active addresses and new partnerships boost Chainlink price for a new bullish breakout?

LINK Price Defend $10 Support with New Integrations

Chainlink, the leading decentralized oracle network, recently announced a series of new integrations with prominent blockchains to expand its market adoption. Following the momentum, the network has shared two new partnerships with GasStation and Charged Particles.

Amid this development, the LINK price shows suitability above $10 support with a long-tail rejection candle.

GasStation is a platform focused on optimizing Ethereum gas fees, offering users tools and markets to better manage and predict gas prices for transactions on the Ethereum network.

This collaboration will provide GasStation access to Chainlink oracle service and technical support, bolstering the security and utility of its Ethereum gas spot market. In exchange, GasStation will contribute 5% of its total native token supply available to Chainlink service providers, including stakes.

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