LINK trades near $13.71 above its 200-day moving average at $12.84, with $13.46 as immediate support. Michael van de Poppe says established protocols with product-market fit could perform dif
Chainlink analyst Michael van de Poppe said LINK is still building momentum as established protocols develop products with product-market fit this cycle. LINK trades near $13.713 after climbing from 7.05-8.00 during July and August. Chainlink also details infrastructure for institutions moving assets and data across multiple blockchains in its latest market commentary.
LINK accelerated from mid-August after breaking above $9.20, then moved through $11.33 and $12.40. It later crossed $14.50 before reaching about $15.60, its highest level shown.
Source: Santiment
However, LINK has since pulled back and now trades below its 50-day moving average at $14.18. It remains above the 200-day moving average at $12.84, leaving the longer-term structure above the 200-day average.
The $13.46 area is close to current price and recent consolidation. Holding that level could put $14.18 back in focus, followed by $14.53 and $15.60.
A sustained move below $13.46 would bring $12.84 into focus. Trading volume expanded sharply during the August-September advance before easing.
Van de Poppe said the current cycle could differ from previous cycles. He pointed to established protocols building products that have product-market fit. He also said many established protocols remain undervalued relative to what he expects from their future development.
LINK traded below its 50-day average but above its 200-day average. That setup places immediate focus between $13.46 and $14.18. However, $12.84 remains major support.
Chainlink said banks, asset managers and financial market infrastructures are moving onchain. It described CCIP 2.0 as a standard for institutions operating across public and private blockchains.
https://twitter.com/chainlink/status/2107548827846852735?s=20The system lets assets and data move between networks without rebuilding frameworks for each blockchain. Chainlink said this connects institutions with markets, counterparties and liquidity across chains.
Fulcrum adds institutional financing capabilities by separating where financing agreements operate from where cash and collateral settle. It coordinates transactions across networks and integrated venues.
Chainlink said Fulcrum can help institutions mobilize collateral and access liquidity across networks. The company also said hundreds of trillions in assets are coming onchain.
