The Chainlink price has pumped 28% in the last 24 hours to trade at $24.91 as of 3:20 a.m. EST on an 834% jump in trading volume to $12.9 billion.
This surge in LINK price comes as Chainlink announces its collaboration with 21X to power Europe’s first EU-regulated tokenized securities market.
Chainlink has partnered with 21X to launch the first EU-regulated financial market infrastructure. pic.twitter.com/po8oLYx7Jh
— Crypto Money Mantra 💰 (@CryptoMoneyMntr) December 2, 2024
Through its Cross-Chain Interoperability Protocol, Chainlink will enable seamless cross-chain asset access and provide reliable price feeds, solidifying its role in advancing blockchain technology within the regulated financial sector.
Scheduled for an early 2025 launch, the platform will operate under the regulatory oversight of Germany’s BaFin.
Chainlink Price May Continue The Uptrend Within The Parabolic Curve
The LINK/USD trading pair’s major support zone on the daily timeframe is between $6.50 and $8.00, where the price found consistent buying interest. This zone acted as a floor during the prolonged consolidation phase before the price began its significant upward move.
A resistance breakout occurred at approximately $9.00, signaling the start of a bullish trend. This breakout was accompanied by increased buying pressure, pushing the price above prior resistance levels.
Additionally, a golden cross (50-day Simple Moving Average crossing above the 200-day SMA) confirms the bullish sentiment. This crossover is a strong indicator of long-term upward momentum in the market.
LINKUSD Analysis Source: Dextools.io
The price has followed a parabolic curve, reflecting accelerated buying interest. This pattern often signals a strong bullish trend, but it also indicates the possibility of a steep correction when momentum fades. Currently, the price is trading around $24.72, showing signs of consolidation near this level, which may act as resistance in the short term.
Chainlink Price Prediction: More Uptrend Coming
The Relative Strength Index (RSI) is at 79.94, firmly in overbought territory. This indicates that the asset may be overextended, and a pullback or consolidation could follow.
Meanwhile, the MACD (Moving Average Convergence Divergence) remains bullish, with the MACD line above the signal line and positive momentum in the histogram. However, the histogram is slightly tapering, hinting at a potential slowdown in bullish momentum.
The trend Chainlink price remains bullish, supported by the golden cross and parabolic price action. Key support levels to watch include $14.00 (50-day SMA) and $9.00 (previous resistance turned support). The immediate resistance is near $25.00, and traders should monitor price action around this level.
While the overall outlook is positive, the overbought RSI and weakening MACD histogram suggest caution, as a short-term correction or consolidation may be on the horizon. For those seeking entry opportunities, a pullback toward the $14.00 level could present a more favorable risk-to-reward setup.
Flockerz Presale Blasts Toward $500k – The Next Crypto To Explode?
As the Chainlink price pumps, investors are also rushing to buy more Flockerz (FLOCK), a Vote-to-Earn (V2E) meme coin that has already raised over $4.25 million during its presale.
According to an analyst on the 99 Bitcoins YouTube channel, which has over 711k subscribers, $FLOCK might be the next 100x meme coin after it launches.
Flockerz positions itself as “the people’s meme coin” and is on a mission to build a strong, loyal community.
The project is designed to reward its members for active participation, particularly in governance decisions, fostering long-term engagement.
Its unique V2E model allows token holders to earn FLOCK tokens by voting on proposals and contributing to key decisions, ensuring the community plays an active role in shaping the project’s future.
POV: When the newest member of the flock gets their first big win 🤑 pic.twitter.com/ctFQnAaBBw
— Flockerz (@FlockerzToken) November 30, 2024
Beyond voting rewards, FLOCK holders can stake their tokens to earn a huge annual return of 570%. This creates a compounding opportunity where members can earn rewards by voting, stake those rewards, and grow their holdings over time.
Currently, FLOCK tokens can be purchased for $0.0062245 using ETH, USDT, BNB, or a bank card. Interested investors should buy before a price hike in a little more than 2 days.
To join the presale, visit the official Flockerz website here.
Related Articles
XRP Price Target Set AT $6.60, But Traders Like This ICO
Moo Deng Soars After Coinbase Listing News
Jump Trading Firm Wallet Acquires $500K Of Catslap
