Chainlink (LINK) brought the U.S. stock market on-chain with the help of the 24/5 Equities Data so that the traders could indulge in lending, borrowing, and trading outside of regular trading hours during the weekdays. Meanwhile, LINK prices are at a critical support level, which could catapult the price past $26.
Chainlink (LINK) integrated the $80 trillion U.S. stock market, using the 24/5 Equities Data, which is an oracle solution that provides data with a high throughput.
With the integration of the U.S. stock market on-chain, traders will now be able to go about their daily trading with stocks and ETFs 24 hours during the 5 days of the week. Additionally, the database connects to over 40 chains.
From a builder’s perspective, this means 24/5 U.S. Equities Streams go beyond just delivering a mid-price. It also delivers bid-ask data, which is important to understand the real market conditions to evaluate slippage or execution quality.
It further provides the last trade prices, volumes, market-status flags (premarket, regular trading session), and staleness indicators, which are needed for builders to create robust risk control strategies and safer execution.
LINK fails to clear $14 resistance twice
On the daily chart, LINK is currently trading within an ascending channel, consistently making higher highs and higher lows. Now that LINK has hit the lower trendline, it is time for it to rebound off of it and move towards the upper trendline if it is to continue following the ascending channel pattern.
However, the token has found some resistance close to $14, despite trying to break this level two times. Since the daily chart gives a bird’s-eye view of what’s happening at this resistance, it’s better to have a granular look by taking the 4-hour chart.
Liquidity dries as LINK bulls retreat
The 4-hour charts show LINK fluctuating inside a pennant, where the trading range gets narrower with the pattern nearing completion.
Each swing becomes smaller than the previous, as bulls reduce aggressive buying and bears reduce aggressive selling. Volatility collapses and liquidity dries out, and that’s why LINK was rejected twice at the $14 price level.
However, this phase of the market eventually gains dominance. If bulls manage to pull it off, the token would be on its way upwards, testing the $14 level one more time.
