Chainlink (LINK) demonstrates strong bullish momentum after rebounding from key support levels, supported by optimistic technical patterns and high price projections. Simultaneously, decentralized exchange Lighter is expanding its reliance on Chainlink’s oracle network to secure multi-asset perpetual trading across equities, crypto, foreign exchange, and commodities.
At the time of writing, LINK is trading at $11.33 with a 24-hour trading volume of $298.7 million and a market capitalization of $8.48 billion. Despite the 3.19% loss the last 24 hours, the LINK price structure and network adoption point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: LINK Price Targets $15 as Bullish Pennant Signals Potential Breakout Ahead
Chainlink Price Eyes $100 After Bullish Rebound
According to the crypto analyst Crypto Patel, Chainlink (LINK) has rebounded sharply from a higher-timeframe bullish order block, with the latest move highlighting renewed buying interest.
The technical structure shows several bullish Smart Money Concepts signals, including a breakout and retest, a breakdown into the bullish order block, and a sweep of the 0.786 Fibonacci level before buyers defended the $11.73 area.
Source: Crypto Patel’s X Post
With increasing momentum, investors should focus on the possible upside targets at $16, $31, and $100 while LINK strives to build up its momentum.
Moreover, the long-term target of Standard Chartered at $200 will boost the bulls’ case further. However, these levels are not sure-shot targets, and LINK will have to overcome resistance to make a move upwards.
Chainlink Powers 100+ New Lighter Markets
The data from Chainlink further highlighted that the Lighter is increasing its use of the Chainlink oracle in over 100 more markets after supporting over 25 markets in the existing system.
This expansion is meant to ensure that data is secure and reliable in the trading system of Lighter, which is extending to include equities, cryptocurrency, forex, and commodities for its users.
Source: Chainlink’s X Post
The integration will facilitate the functioning of markets in a range of assets, including U.S. and APAC equities, top cryptocurrencies, forex pairs, and commodities across Lighter’s Ethereum-based Layer 2 and Robinhood Chain networks.
In both cases, the same oracle framework is used to ensure uniformity of market data in relation to Lighter’s increasing multi-asset on-chain trading ecosystem.
Despite the bullish price predictions and network expansion, the LINK price is moving in a downward direction. This move is also backed by the general trend in the crypto market as the BTC price has started to move sideways.
What Comes Next?
It will be essential for Chainlink to see how LINK manages to consolidate the recent gains and manage to breach important levels with increased buying volume.
This would help LINK target levels such as $16 and $31, while increased adoption of Lighter could help increase the long-term demand. Failure to maintain key levels could slow down the overall bullish trend.
Also Read: Chainlink Price Above $11 as DeFi Adoption Fuels LINK Rally
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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