What is the Key to a Possible Chainlink Rally?

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Some blockchains adopt the concept of ”the game is won slowly and steadily”, while others believe in growing exponentially in one go. Chainlinkit would not be wrong to say that LINK belongs to the old category.

What Could Be the Trigger for a Possible Rally?

As of the moment of writing, it is the 14th largest in terms of market capitalization according to CoinGecko data. Chainlink, an altcoin, has become one of the projects that can keep up with this advanced technology. Industry collaborations and integrations, LINKEDhe was instrumental in the growth of the . The 14th largest by market capitalization. the price of altoin is again struggling to rise. So what is the potential to move the LINK price up?

The Wind of the Gaming Industry

A few months ago, speculation that gaming platforms would be installed had a very positive effect on the price of many tokens. Tokens that produce projects in the field of gaming, such as Axie Infinity, Enjin Coin, Decentraland and The Sandbox, have also recorded very serious price increases in the past. Fortunately, Chainlink’s cash inflows and VRF (Verifiable Random Function) solutions were at the right time, with the explosion of the play-win model blockchain-based gaming industry.

Also recently Chainlink their solutions have been integrated into CryptoZoon and Legends of Bezogia. The first is a developed network of professional nodes that provide data on market prices. Secondly, it is a first-class random number generator on the blockchain that supports smart contracts. LINK is one of the former players of this ecosystem, but it is also an important subcoin in terms of use case (areas of use of the project). Therefore, these integrations and technical enhancements have the potential to further strengthen the growth of Chainlink.

Are the Metrics Plotting an Uptrend?

Recently, Chainlink has also been fighting a big price fight in order to maintain a good bullish performance among all other DeCi L1 coins. LINK recently tested the resistance of the 29 dollar with a good trading volume, rising to the 30-32 dollar price band for the first time since September 6, demonstrating that hopes have not been completely exhausted. Despite the fact that this price movement took place with a high trading volume, LINK was unable to maintain the $ 30 price level. Ignorance as of the moment of writing, according to CoinMarketCap data, it is trading at 28.91 price levels. But Chainlink’s network growth has been on a healthy trajectory since mid-July. The price is making higher bottoms on the chart every time. This is another positive indicator on the part of LINK.

Although the metrics show bullish signals, the key to a possible forward-looking rally of Chainlink will be the technology and ecosystem-centric developments of the project.

The information contained in this article absolutely does not contain investment advice. Investors should know that they are carrying risks due to the high volatility of crypto currencies and should conduct their transactions in accordance with their own research.

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