Chainlink (LINK) Now Supported as a Payment Method on LocalBitcoins

Also from the chart, it can be observed that the three daily indicators – MACD, RSI and MFI – are pointing towards an ongoing trend reversal for Chainlink from the bearish environment experienced in late May. Although, the daily trade volume is yet to provide the much-needed confidence to conclusively state that Chainlink will retest levels past the 50-day moving average at the $37 price area.

To note is that the value of LINK in the crypto markets is tied to its function calls on the Ethereum network. As a result, LINK’s price is hinged upon increased DeFi activity on Ethereum in addition to Bitcoin being the overall compass for the market direction in the crypto markets.

Therefore, DeFi on Ethereum needs to thrive once again and Bitcoin has to be stable for Chainlink to keep rising above $30.

Source: Read Full Article