ChainLink Price Run Soon: Major Partnership With SBI Group Sets Stage

Chainlink’s partnership with Japanese SBI is all over the headlines Today. Investors are majorly excited as these two start working together, especially as this collaboration not only feeds into Chainlink’s use case but also spreads crypto awareness among non-crypto natives, opening up fresh liquidity. The LINK price chart is also looking very good from a technical analysis point of view.

https://twitter.com/QuintenFrancois/status/1959858458292818409?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

200 Billion USD! What does that mean? Is SBI buying 200 billion worth of LINK?

This is an institutional partnership. SBI Group is one of Japan’s most significant financial conglomerates and has been a dominant provider of internet-based financial services since the late 1990s.

Now, in light of recent successes surrounding the growth of corporate crypto reserves, it wants to grow its digital currency portfolio. To do that, it will use Chainlink’s technology.

What does the Chainlink technology do? It facilitates cross-chain tokenization of assets, cross-border payments, and compliance-focused transactions, lowering costs.  It provides on-chain net asset value data to improve automation and efficiency. This ensures transparency and trust for regulated stablecoins in an institutional setting.

DISCOVER: Best Meme Coin ICOs to Invest in 2025

I know this is a lot of information all at once. But I hope it gives a clear picture of how much Chainlink is actually doing and the strong fundamentals they’ve built to become the backbone of institutional adoption.

ChainLink Price Analysis: What Does the LINK Price Chart Say?

(LINKUSD)

Let us begin with a higher timeframe, such as the 1W chart. Here we see the price history from the project’s inception. We see a clear consolidation from May 2022 until October 2023 that tested 2019’s highs.

Then, in late 2023, Chainlink’s price broke above the consolidation range into another one, below mid-range. The next break above should lead us to the previous ATH and soon after, above it.

DISCOVER: Top Solana Meme Coins to Buy in 2025

(LINKUSD)

The next and final chart will be the 1D chart. It’s not good to get chopped up on lower timeframes during volatile periods. Yesterday was a great example of why it’s worth waiting and not going all in when the LINK price is between key levels.

From this chart, we see that our next level to overcome is the 2025 high. Last week, there was a clear rejection. There is a beautiful bullish trend that started in July. For long entries, I’d wait to see a higher low formed.

DISCOVER: Top 20 Crypto to Buy in 2025

Cancel out the noise and hype vibes. Protect your capital at all times. That’s the only way to stay and trade profitably in the long run.
Happy trading!

Join The 99Bitcoins News Discord Here For The Latest Market Update

 

The post ChainLink Price Run Soon: Major Partnership With SBI Group Sets Stage appeared first on 99Bitcoins.

Source link