Chainlink’s Token Surge

Chainlink’s native token rallied by 10%, reaching a seven-month high on Tuesday, marking a weekly increase of 42%, the highest among the leading 50 cryptocurrencies. This surge is attributed to a newly formed partnership with the Intercontinental Exchange, the parent company of the New York Stock Exchange, and a token buyback initiative known as the Chainlink Reserve.

Key Highlights:

• The partnership aims to integrate foreign exchange and precious metals pricing data on-chain.
• The Chainlink Reserve program converts company revenue into LINK tokens, sustaining buying momentum.

Market Indicators:

• Technical analysis indicates bullish momentum, especially if LINK surpasses the near-term resistance near $24.
• Currently, LINK enjoys support within the $21.00–$21.30 range, validating positive market sentiment.