Chainlink Initiates Recovery; May Cross $7.6 Soon

  • Chainlink integrates with RAI’s testnet with ETH/USD price reference data.
  • It may soon get away from market volatility and have a bullish run.
  • The next target for investors should be 7.6 USD.

Chainlink has recently announced that it has successfully been integrated with RAI’s testnet launch. It is said that Chainlink’s ETH/USD Price Reference Data oracle network will be used as the price feed for RAI. These reference data are a ready-made solution that is being used in multiple DeFi applications.

Chainlink Price Analysis

LINK/USD spotted at $7.16 at the starting of the week, and over the next two days, the currency reached the highest point of the week at $8.89. Soon, Chainlink’s volatile journey started as after hitting $8.89, and the coin started correcting downwards with hefty volatility. On July 18, the LINK price tumbled down to $7.62. After a few upward spikes, the price pulled down to $7.13 yesterday.

Today, Chainlink’s price spotted trading upwards from the first hour. Currently, it trades at $7.43, and the MACD reflects a bullish crossover. If LINK continues to trade with the current momentum, it may soon cross $7.6. However, the chances of a downside correction can’t be completely avoided. Investors need to be ready for support near $7.1.

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