Chainlink The price has corrected over the past week, reaching strong support in the $12-13 range. created. LINK, which has an average market value of $15 billion, has recovered by 6% in the last two weeks.
However, the ongoing push by the SEC to regulate the crypto market has dampened the community’s bullish expectations. In the last update, the SEC drew attention to Robinhood Markets by issuing a Wells notice regarding its crypto business.
Hot Development: Wells Notification from SEC to the Giant Stock Exchange, Shares Decline!
#Chainlink Does a retest at cycle low.
That’s not when you want to start selling your positions. pic.twitter.com/ATeqM8QbCB
NEWS CONTINUES BELOW— Michaël van de Poppe (@CryptoMichNL) May 6, 2024
According to Michaël van de Poppe, Chainlink price It is poised to make a new high after testing the bullish breakout. As we reported as Koinfinans.com, it is noteworthy that the LINK price has retested the cycle bottom against Bitcoin (BTC) in the last few weeks.
The possibility of the price rising by as much as 10% after a consolidation is one of van de Poppe’s predictions. On the other hand, Chainlink, which is currently forming a reversal formation, must make a clear close above $18 to maintain this momentum.
The network aimed to build a strong foundation by evolving into a reputable web3 platform that enables seamless tokenization of real-world assets through the cross-chain interoperability protocol (CCIP). Oracle datasets are frequently used by dozens of web3 platforms such as AAVE and Synthetix, among others. Remarkably, the Chainlink network remains one of the strongest players, with more than $10 trillion in enabled transactions.
