Chainlink has garnered market attention due to its partnership with Mastercard, allowing over 3 billion cardholders to conveniently purchase cryptocurrencies. This collaboration promises to simplify the fiat-to-crypto conversion process using Chainlink’s technology.
Analysis of Chainlink and Mastercard Partnership
Recently, Chainlink announced a strategic partnership with Mastercard that enables cardholders to directly make cryptocurrency purchases on the blockchain. This integration showcases the real-world application potential of Chainlink’s technologies, providing users a safe and efficient method to convert their funds.
Current Price and Market Metrics of LINK
As of press time, LINK is trading around $13.30, with a +1.35% daily gain and a $9 billion market cap. However, over the last 24 hours, trading volume has decreased by 7.18% to $532.35 million. During this time, LINK has fluctuated between $12.97 and $13.72.
Technical Price Level Analysis for LINK
The RSI at 63.28 indicates a bullish trend but is approaching overbought levels, hinting at potential consolidation or retracement. LINK is hovering close to its immediate support at $13.30. A move below this level could trigger deeper corrections down to $12.80 and further. On the upside, a confirmed breakout above $13.73 could open the door to additional gains, invalidating the current bearish sentiment.
The partnership between Chainlink and Mastercard presents new opportunities for users looking for ease in crypto purchases. However, the current market situation calls for attention to key support and resistance levels, which may impact LINK's short-term prospects.
