THELOGICALINDIAN - Chainlinks LINK badge saw a fasten in animation afterwards Robinhood accepted its listing
Chainlink’s LINK badge briefly pumped and dumped today on account that Robinhood had listed it. Regardless, the decentralized oracles badge appears to accept the backbone to abide trading aloft support.
Robinhood Lists Chainlink’s LINK
Chainlink’s LINK badge is adorning its horizons to a broader ambit of investors afterward its advertisement on the online allowance belvedere Robinhood.
American retail trading aggregation Robinhood clearly confirmed that it added LINK to its cryptocurrency offerings. This is the aboriginal time the belvedere had listed new tokens back mid-April back it added abutment for Compound, Polygon, Solana, and Shiba Inu. The new advertisement may advice accommodate added clamminess to the decentralized oracles token.
LINK jumped by about 9% afterward the announcement, activity from a low of $6.70 to an intraday aerial of $7.20. Prices accept retraced back again by about 10%, and the badge hovers about $6.50 at the time of writing. From a abstruse perspective, it appears has yet to accretion the backbone for a cogent movement.
Chainlink appears to be accumulation aural a alongside approach on its alternate chart. Each time the badge alcove the channel’s high boundary, it retraces to the lower boundary. From this point, LINK tends to backlash again, which is constant with the characteristics of a channel.
The contempo bounce at $7.20 appears to accept encouraged traders to avenue some of their positions. Further affairs burden could advance LINK to the channel’s lower trendline at $6.30 afore a backlash to the channel’s high trendline at $7.50 occurs. Still, it charcoal to be apparent whether Chainlink can authority aloft support.
Failing to accumulate the $6.30 akin as abutment could activate a bearish breakout. The alongside channel’s amplitude added to the blemish point suggests that a aperture of abutment can aftereffect in a 15.7% alteration against $5.30.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC and ETH.
