Chainlink Price Analysis: UNICEF Partners With LINK Token To Support Blockchain Enabled Apps

  • LINK token price is at $38.40 with a 2.33% profit, on Saturday’s trading session
  • Chainlink collaborates with UNICEF Innovation fund to support blockchain in upcoming markets
  • The LINK/BTC pair was trading at 0.0006610 BTC with a loss of 3.80%

The 4-hour technical chart of the LINK token price forecasts a positive trend. According to pivot points, LINK’s critical support level is placed at $30.50. Whereas if it moves up, the key resistance level to watch is $44.10. While diving into the weekly chart of a 4-hour time frame, it completes a pin bar candlestick pattern representing bullish reversal with medium reliability.

EMA- (20,50) acts as another strong support in the coin. EMA-20 (blue) intersects above EMA-50 (purple), which projects a positive trend. The price is sustaining above EMA-20 (blue). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.

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RSI indicator (BULLISH), with a value of 62, indicates a buy signal in the coin. Moreover, Investors can see an upward slope in the index, which may surge in future trading sessions.

The volume of (802.84K) is below the Volume MA (851.80K) of 20-days. High buying pressure is required in Chainlink to drive its price to higher levels.

Chainlink Teams Up With UNICEF Innovation Fund And Crypto Fund

By collaborating with UNICEF Crypto Fund, Chainlink will help the beginning phase organizations scaling their tasks and gain the number of individual people who can profit from good social cause projects.

A portion of the activities the Crypto Fund holds include applying AI analytics to public administrations in Argentina. It makes delicate clinical information portable and private in Mexico, utilizing an intelligent voice response platform in Cambodia to teach individual people about Covid-19 and improving food and vaccine supply in India.

LINK Token Price Action Projects Bullish Trend

LINK token price traded at $38.40 with a gain of 2.91% in the last 24-hour and 12.78% up in the weekly time frame. Furthermore, LINK bounced back from the support of $30.50. In contrast, the market capitalization stands at $16 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the EMA-20. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $44.10 in future trading sessions.

Resistance: $44.10

Support: $30.50

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Source: https://www.thecoinrepublic.com/2021/05/01/chainlink-price-analysis-unicef-partners-with-link-token-to-support-blockchain-enabled-apps/