Chainlink And AP Partner Up, Link Cost Readies For A 50 Percent Advance
Chainlink has had a tough time after a crash in its price on the 19th of May and has been down since. But LINK is coming out of this mess and looking to cause an upswing.
Recently, Associated press announced they would leverage Chainlink blockchain. They will store their most critical information in Chainlink’s blockchain. Based on their most recent official statement, their developers will be tasked with creating applications to be used to access the data through a Chainlink node.
Users will be able to use the data to customize on-chain systems, games or to automate trading activities. AP said that they believe blockchain is critical in our everyday lives.
On the same note, the Billionaire Bunny Club is currently using the Variable Random Function, another one of Chainlink’s features, to airdrop random NFTs with the help of a random digit generator. Consequently, the entire process will become somewhat fraud-proof, transparent and exciting to users.
In the meantime, LINK’s price is preparing for a surge. Its price has been below 50 of Fibonacci retracement level of $33.2 for the last 5 months, but is now working to rise above this benchmark. Recently, Chainlink zoomed past the supply zone, between $27.01 and $29.80, indicating a change in the market dynamics.
Provided LINK remains well above the $29.80 mark, it will always be bullish. However, a close well above $33.2 will be a confirmation of its uptrend, which may kickstart a shift towards a 70.5 percent Fibonacci retracement at about $41.35.