LINK Stuck Near 6-Year Support Despite Major Partnerships With Robinhood and Ondo
Despite positive developments like partnerships with Robinhood and Ondo Finance, Chainlink (LINK) has struggled to recover and remains near a six-year support level.Summary
Chainlink (LINK) has faced persistent selling pressure in February, despite significant partnerships with Robinhood and Ondo Finance. The price is currently testing a crucial support level that has held for six years, making its behavior in the coming days critical for long-term projections. Robinhood launched a public testnet for its Layer 2 network, Robinhood Chain, with Chainlink as its oracle provider, and Ondo Finance selected Chainlink to accelerate the adoption of tokenized real-world assets. However, these positive developments haven't translated into a price increase, likely due to weak overall market sentiment and increased exchange inflow, suggesting potential selling pressure from large holders. While sustained selling could breach the six-year support, the partnerships offer long-term optimism, contingent on a more favorable market environment.
(Source：BeInCrypto)