Chainlink Price Analysis: The Crypto Has Declined in Intraday Trading; Announced a New Oracle Node for Smart Contract

Chainlink recently announced for a new Oracle Node where users can add real-time Ethereum data to Chainlink oracles. The feature will make accessing on-chain information easier and more flexible for smart contract developers.

Current Statistics of Chainlink:

  • On August 21, at UTC 05:43, Chainlink (LINK) was trading around $2.3026.
  • Against Bitcoin, the crypto was valued around 0.0002262 BTC per chip.
  • At present, the market rank of Chainlink (LINK) is 16th in the cryptocurrency chart.
  • Additionally, the market capitalization of the altcoin was around 818,339,546 USD.
  • At the same time, the 24-hour trading volume in the coin was 74,462,264 USD.
  • With a return on investment of 1,394.06%, a total of 350,000,000 LINK chips were circulating in the market at the time of writing.

LINK to USD Price Comparison:

Chainlink Price Prediction
Chainlink Price Chart

On July 28, Chainlink (LINK) was trading around 2.256465 USD. Nevertheless, today after 25-days, the altcoin has shown a bit of strengthening of 2.04%. In the weekly trading as well, the crypto has made a slide toward the positive side of the chart by a slight margin of 0.58% from the trading value of 2.2889 USD on August 15. However, in the intraday trading on yesterday, the digital coin has gone down by a slight margin, where it opened at 2.50 USD, and with a decline of 4.89%, it finally wrapped the day at 2.38 USD.

Chainlink Price Analysis: The Crypto Has Declined in Intraday Trading; Announced a New Oracle Node for Smart Contract

LINK Price Prediction:

In the weekly and medium-term trading, Chainlink has shown some strengthening. However, the coin has declined a bit in yesterday’s trading. As per our Chainlink LINK Price Prediction, the crypto might trade around $4 in the long term. At present, the immediate resistance for the coin is at 2.32USD, and the support level is at 2.28 USD.

Conclusion:

The future of Chainlink is a bright one, especially after the recent partnership. The eth.events enables you to search, process, and analyze real-time blockchain data using ElasticSearch & SQL. For smart contract management, the feature will be utterly helpful. As far as trends in crypto are concerned, the short term looks bearish; however, the long and the medium terms are bullish.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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