LINK, the native cryptocurrency of decentralized oracle network Chainlink, entered a rapid recovery momentum after a pullback from $12.8 in mid-May. The bullish reversal pushed the pair up 49.5% to $19.2 before retreating for a small correction
Against the backdrop of recent market uncertainty, Chainlink has fallen 9% from its previous high, seeking support at $17.5. The 23.6% Fibonacci retracement level prevents LINK price from falling in the future.
Also, leading crypto analytics firm Santiment reports that Chainlink (LINK) has been hailed as the most active cryptocurrency project in the real-world asset space.
The assessment, based on non-redundant GitHub activity over the past 30 days, demonstrates Chainlink’s commitment to innovation and continuous improvement, with a development activity score of 428.83.
As the market's buying interest is rekindled, LINK price predictions indicate that the $19 resistance level will turn into a suitable support level, chasing potential targets of $20.7 and $22.8.
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