Chainlink’s integration with TRON could spark momentum for TRX and LINK, driving bullish sentiment and cross-chain adoption in the crypto space
Chainlink (LINK) and Tron (TRX) recently partnered. The TRON DAO will incorporate Chainlink’s decentralized price oracles into the network.
This integration is a significant milestone for TRON’s DeFi infrastructure, as it introduces more secure and reliable data inputs for smart contracts.
According to market analysts, the transaction could potentially stimulate an increase in the value of the native tokens of the two platforms, TRX and LINK.
The integration enables TRON to compete in the expanding asset tokenization market, which is presently valued at approximately $3.5 billion, according to Coingecko data.
Chainlink’s native tooling on Ethereum has enabled the development of the most significant asset tokenization initiatives.
The momentum of Tron TRX and Chainlink LINK is evident in the cryptocurrency forecast.
For the past week, LINK has remained at approximately $16 at the time of publication, while TRX has increased by 4% to $0.27 during the same period.
Fortunately, LINK has continued to experience a successful month, with a 30% increase in the past 30 days. Furthermore, Chainlink’s price has recently closed above the resistance range, as evidenced by a bullish engulfing candle, indicating that momentum is accumulating.
If this occurs, investors anticipate that Chainlink will ultimately receive $20.
LINK must surmount critical resistance levels to achieve its objective. It is important to note that LINK has previously encountered rejection at the $15 resistance level, which continues to be a significant obstacle for the asset.
Chainlink has finally surpassed this threshold and is maintaining its favorable momentum, which is being bolstered by an increase in trading volume. This could potentially support the company’s climb to $20.
Tron TRX’s price has rebounded from a critical support level at $0.2165 to $0.28 this week, thereby overturning the critical resistance level at $0.2584, which it had previously encountered numerous times this year.
Technical indicators bolster TRX’s favorable outlook. With the formation of an ascending channel, TRON is rapidly approaching its upper boundary.
In the near term, TRX could be propelled toward the $0.30 resistance level by a successful breakthrough above $0.28, potentially reaching the 2024 high of $0.4467, which represents an approximate 60% increase from current levels.
Chainlink LINK and Tronx TRX are prominent altcoins whose near-term fluctuations may be associated with the new integration.
