Chainlink (LINK) was marginally higher in the last 24 hours at $7.48. Orange Comet, a Web3 company pioneering next-generation gaming and entertainment experiences, has integrated Chainlink Verifiable Random Function (VRF) on Ethereum to help power key initiatives for the Mayfair Witches NFT Collection. As a leading entertainment brand, Orange Comet is a team of creators that produces world-class NFT and metaverse experiences. By taking the best of this cutting-edge technology and combining it with their expertise in dynamic storytelling, gamification, creativity, and technology, Orange Comet helps leading brands and IPs capture the imagination of the Web3 community. Chainlink VRF will also be employed in the future by Orange Comet to add to the many utilities of these passes and will include IRL experiences to meet the cast and visit sets.
Key Levels
Resistance Levels: $12.30, $9.50, $8.00
Support Levels: $7.021, $6.50, $5.38
LINK/USD Daily ChartLINK is stabilizing after a recent rebound from its low of $7.14 on March 1. The bias appears to be favoring the upside, as the bullish structure is maintained by MA 50. The near-term technical oscillators are also sending signals of increasing emotion, favoring a hopeful outcome, while the RSI is attempting to maintain its push over the 50-point mark.
If LINK/USD buying activity increases, the nearby $9.50 high could provide early resistance. If the bulls’ confidence grows, they may go for the $12 resistance level, which includes key time highs. A loose foothold from the $7.00 level might hit the MA 200 at $7.0. A bullish bias might hold despite market conditions and LINKS consolidation shortly.
LINK/USD 4-Hour ChartChainlink (LINK) has gradually risen from its February 13 low of $6.43 to the MA 200 at $7.53 at the time of this article. Price has once again bounced off the MA 20 above the $7.5 threshold, where it is currently consolidating. On the plus side, $8.0 serves as a temporary barrier ahead of the $9.50 significant resistance level. Nonetheless, layers of support show an upward tilt and may provide some comfort.
If momentum traders join the party, a bullish breakout beyond here would set off a protracted surge beyond $10.00. On the contrary, a decline below $7.30 (MA 200) would continue the sideways motion to $7.00 at the horizontal support. Therefore, a break below the moving averages could result in a repeat of the $6.43 lows.
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