Chainlink (LINK) announced its important cooperation with Abu Dhabi Global Market (ADGM). With the effect of this development, the price of Altcoin has seen a significant increase of 8 percent in the last seven days. According to analysts, if LINK maintains its positive feeling, Token can soon reach $ 25. In fact, analysts point to $ 44 in the continuation of the rally.
What is Chainlink (LINK)?
In the latest development in the Chainlink ecosystem, the platform entered a strategic partnership with the Abu Dhabi Global Market (ADGM) to promote tokecization at the UAE. As part of cooperation, Chainlink and ADGM signed an agreement to create a safe and legally solid environment for asset tokensation in financial markets.
ADGM will provide significant regulatory guidance, frameworks for safe tokensation, and asset tokecination. At the same time, Chainlink will contribute with technical expertise, blockchain -based solutions and tokecination infrastructure. Chainlink Labs Abu Dhabi senior manager Angie Walker appreciated the flexible infrastructure of ADGM and said:
Our partnership will raise the Blockchain ecosystem in the UAE and provide more innovation and adoption. We are excited to see that projects under the authority of the ADGM Registration Authority have adopted the Chainlink Standard and provide smooth compatibility, developed connection between markets and extremely secure on-Chain services.
Is the next target for Altcoin $ 44?
With the influence of the latest developments, a significant rise in the price of Chainlink (LINK) was seen. The price of more than 8 %in a week is expected to increase the price of Altcoin. Recently, an analyst, known as CW in X, detected a bull flag formation on LINK’s one -day graph. The $ 12 serves as a significant level of support for the Chainlink price, while the Rally, the sign, shows the token’s potential bull tendency. The analyst also identified $ 18 as a level of resistance and predicted that LINK could rise to $ 44 if it exceeded this point.
Future Trends for LINK
Altcoin was traded for $ 15.31 with an increase of 0.31 %during the day. Despite the 14 %decrease in the monthly price, the LINK price experienced an increase of 8.3 %last week. Currently, a 24 -hour trading volume, which is currently 339.14 million dollars, has a slight increase of 1.59 %. According to a LINK price forecast, crypto may not witness major gains in the future based on existing trends.
Analysts such as CW reflecting this positive atmosphere foresee a great rise. Analyst Marzell made a detailed analysis of Chainlink, offering a weekly graph. According to him, LINK is currently traded in a clear ‘rising wedge’ structure and has just jumped from $ 13,55 from the level of 0.786 fibonacci. This level is a historically powerful withdrawal zone for LINK. However, this fluctuation indicates a potential continuation of the upward acceleration, as it aligns with the support of the lower trend line. If this trend persists, the Chainlink price can reach $ 25,80, $ 32.66 and $ 40,70.
Source: Marzell
