Bitcoin and other crypto tokens were trading higher on Tuesday ahead of the Federal Reserve’s policy meeting outcome, where the US central bank is expected to maintain the status quo. The market dominance of Bitcoin in the crypto market has increased to about 50 per cent, which is the highest in the last 26 months.
Chainlink(LINK) serves as a blockchain abstraction layer, facilitating seamless connectivity for smart contracts across various platforms. By employing a decentralized oracle network, Chainlink ensures secure interactions between blockchains and external data feeds, events, and payment systems.
Image: Chart-LINK
In the daily time-frame, the LINK/USDT trend has come out of its consolidation phase. The chart has broken out of the descending trendline with a good buildup of volume and we could expect an upward trajectory in the trend during the coming weeks. The next resistance is expected at 7.33 USDT and a strong support is expected at 5.01 USDT.(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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