The recent news highlights that Ripple is expanding RLUSD adoption by integrating Chainlink's price feeds, further enhancing the utility of stablecoins. This development could contribute to increased market interest in Chainlink (LINK). At present, LINK has reached a critical support and high-demand zone between $20.50–$21.50, where buyers have historically stepped in.
For those considering a short position, exercise extreme caution, as this zone is a strong support level. Place your stop loss very close to minimize risk, as a reversal or breakout could invalidate the trade quickly.
For those looking to go long, it is prudent to wait for a confirmed breakout above $23.00 to ensure the upward momentum is backed by volume and market strength.
The market is currently volatile and uncertain, so trade cautiously, ensuring proper risk management and patience for clear technical signals before committing to any position.
For those considering a short position, exercise extreme caution, as this zone is a strong support level. Place your stop loss very close to minimize risk, as a reversal or breakout could invalidate the trade quickly.
For those looking to go long, it is prudent to wait for a confirmed breakout above $23.00 to ensure the upward momentum is backed by volume and market strength.
The market is currently volatile and uncertain, so trade cautiously, ensuring proper risk management and patience for clear technical signals before committing to any position.
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