🔗 LINK: Financial institutions are taking notice of Chainlink, but is its price still under pressure?
1. Noteworthy news
On November 10, Chainlink and Moody’s announced a pilot to distribute credit rating data across multiple blockchains via CCIP.
In addition, Charles Schwab expanded its crypto trading services, adding LINK alongside SOL and AVAX.
Potential impact:
* Expand Chainlink’s potential use in traditional finance.
* Make LINK more accessible to investors.
* However, a pilot does not necessarily mean revenue or demand for LINK will increase immediately.
2. Market outlook
According to data from November 11:
* LINK is around $10.34.
* Down about 1.34% over 24 hours.
* Down about 9.63% over 7 days.
* The daily RSI is around 38, indicating momentum remains weak.
3. Spot opportunities
Key levels to watch:
* Support: $10.10–$10.15.
* Nearby resistance: $10.48–$10.55.
Strategy to consider:
* Don’t rush to buy before the price confirms it can hold support.
* You could wait for a positive reaction around $10.10–$10.15.
* Alternatively, wait for the price to break above $10.55 with solid volume before considering an entry.
* If the daily candle closes below $10, reassess the bullish scenario.
4. SM Crypto’s view
LINK has a notable use case foundation in the Oracle sector and in connecting data across blockchains.
However, positive ecosystem news does not guarantee the token’s price will rise. What matters is real-world usage and whether it translates into demand for LINK.
Discussion question:
Do you think Chainlink could become one of the key infrastructure providers for traditional finance in the future, or will LINK remain under short-term downward pressure?
#LINK #Chainlink #Crypto #SpotTrading #RWA #SMCrypto
1. Noteworthy news
On November 10, Chainlink and Moody’s announced a pilot to distribute credit rating data across multiple blockchains via CCIP.
In addition, Charles Schwab expanded its crypto trading services, adding LINK alongside SOL and AVAX.
Potential impact:
* Expand Chainlink’s potential use in traditional finance.
* Make LINK more accessible to investors.
* However, a pilot does not necessarily mean revenue or demand for LINK will increase immediately.
2. Market outlook
According to data from November 11:
* LINK is around $10.34.
* Down about 1.34% over 24 hours.
* Down about 9.63% over 7 days.
* The daily RSI is around 38, indicating momentum remains weak.
3. Spot opportunities
Key levels to watch:
* Support: $10.10–$10.15.
* Nearby resistance: $10.48–$10.55.
Strategy to consider:
* Don’t rush to buy before the price confirms it can hold support.
* You could wait for a positive reaction around $10.10–$10.15.
* Alternatively, wait for the price to break above $10.55 with solid volume before considering an entry.
* If the daily candle closes below $10, reassess the bullish scenario.
4. SM Crypto’s view
LINK has a notable use case foundation in the Oracle sector and in connecting data across blockchains.
However, positive ecosystem news does not guarantee the token’s price will rise. What matters is real-world usage and whether it translates into demand for LINK.
Discussion question:
Do you think Chainlink could become one of the key infrastructure providers for traditional finance in the future, or will LINK remain under short-term downward pressure?
#LINK #Chainlink #Crypto #SpotTrading #RWA #SMCrypto