Will Chainlink Price Revisit $15 As Sonic Labs Integrates CCIP?

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As a seasoned analyst with over a decade of experience in the dynamic world of cryptocurrencies, I find myself drawn to the current state of Chainlink (punintentional dynamics. The recent price action of late week’s) situation of Sonic situation of Chainlink (Chainlink). The latest integration of Sonic LINK price.

Last week, the value of Chainlink saw a decrease, falling over 10% as the overall crypto market cap contracted. Despite this setback, the fintech company has been broadening its influence within the cryptocurrency sector, with the most recent alliance being Sonic, formerly known as Fantom. At present, Chainlink’s price chart exhibits a bullish pattern that could potentially lead to an upward surge, possibly pushing the price of Chainlink up to $15

Sonic Labs Integrates Chainlink CCIP, LINK Price to Follow Next?

Sonic Labs, a prominent blockchain organization, has incorporated the Chainlink Cross-Chain Interoperability Protocol (CCIPP) and data feeds Feeds (Data Exchange Data Synchronization Service) to boost the functionality of decentralized applications (dApps). This integration is anticipated to augment the worth and credibility of the LINK token (LINK). The incorporation oferoperability Protality

.@0xSonicLabs (formerly Fantom) has officially joined the #ChainlinkScale program.

In the context of this partnership between Sonic Labs and Sonic Lab’s (SonicLab), our lab is one of several companies that work with ChainLink Data Feeds and CCIP to create its own software. One of the devices in this collaboration, Sonic Labs has also partnered with another company called Chainlink Data Feeds, offering a device which I mentioned above, Sonic Labsolutely, Sonic, Sonic Labs (S had collaborating (Mission: Impossible) was created to enable its ecosystem devs

— Chainlink (@chainlink) September 3, 2024

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As a financial analyst, I can attest to the fact that prominent financial entities such as myself and 21Shares, along with Colombia’s leading banking group, Bancolombia, have faith in Chainlink’s Proof of Reserve (PoR) system, one of their flagship services

Chainlink Price Could Surge to $15

Chainlink price continues to move within a falling wedge, which remains a bullish reversal pattern. The asset is consolidating within the wedge and seems to be forming a higher low near the $10.00 support area, indicating potential strength.

The estimated support region for LINK‘s cost is approximately between $9.80 and $10.00. This level has proven its strength by being tested repeatedly in August and early September. Conversely, an immediate barrier can be found near $12.00, which coincides with the upper boundary of the wedge formation. Breaking through this barrier could potentially drive the Chainlink price towards the next resistance zone around $14.00 to $15.00

The candlestick pattern around the support zone suggests indecision, but buyers are likely stepping in with long lower wicks forming near support. This hints at a possible rebound towards the upper wedge boundary.

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Will Chainlink Price Revisit $15 As Sonic Labs Integrates CCIP?

The predicted trend for Chainlink suggests it’s wrapping up a period of correction or pullback (which could be a retracement phase). Following this, there’s a possibility for a surge or uptrend, potentially leading to a breakthrough near the price point of $14.00

If the price surpasses $12.00 significantly and this is backed by high trading volume, it might signal a bullish reversal. This breakout could potentially propel the price to approximately $16.00 for long-term investors, with potential additional resistance at $18.00 if market conditions stay advantageous

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2024-09-05 12:56