Chainlink is a framework for building Decentralized Oracle Networks (DONs) that bring real-world data onto blockchain networks, enabling the creation of hybrid smart contracts.
The Chainlink Network consists of Decentralized Oracle Networks (DONs) that consist of a network of independent oracle node operators that fetch, aggregate, validate, and deliver real-world data on-chain. Each oracle node can specialize in providing different decentralized services on the behalf of smart contracts. The network is also used by data providers to monetize their datasets by selling their APIs to smart contract applications. The most common use case includes securing Decentralized Finance (DeFi) protocols which require financial market data. This has led to an increase in LINK price.
Let us review LINK price.
LINK Price Prediction
LINK is currently trading below the resistance zone at $24.35. If this resistance is broken, we could start seeing a move towards $27.63, $30.21, $33.89, $38.57 and $52.09. Failure to break the resistance at $24.35 could lead to a drop towards the support at $16.56 and $13.47.
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