Chainlink Network will now receive high-quality price feeds from traditional markets via data provider New Change FX. LINK price shows signs of exhaustion as the MRI flashed a cycle top signal. A minor retracement will arrive before a climb to record levels at $45.2. Chainlink adoption has been on a tear during this recent bull run. Likewise, LINK price explored into the discovery phase as it erected new all-time highs. Traditional market data enters cryptocurrency ecosystem Chainlink oracles will get a boost as New Change FX, a data and analytics firm, announced that it would make its regulated benchmarks for traditional markets, precious metals, and others available on leading blockchains via Chainlink Network. High-quality price data of over 2.300 currency pairs will allow developers to create applications in the rapidly expanding DeFi sector. The blog further read, The decision to transition to a blockchain data provider on the Chainlink Network should come as no surprise as DeFi markets are quickly expanding in value. Most DeFi products require high-quality financial data, and Chainlink is the industry leading oracle provider to DeFi. In addition to this significant development, Oddz, a multi-chain options trading platform, revealed the integration of Chainlink’s Implied Volatility data feed for BTC/USD and ETH/USD pairs across multiple blockchains. We selected Chainlink as our go-to oracle solution because it sources high-quality data using decentralized, time-tested, and hyper-reliable infrastructure that have strong built-in resistances to potential exchange inaccuracies or data manipulation attacks. With such a rapid rate of adoption, Chainlink has become one of the most popular oracle blockchains to rely on, especially when it comes to accurate and tamper-proof data. Chainlink price shows bulls’ temporary exhaustion Chainlink price was trading inside a bullish pennant for more than two months. This setup contains an initial spike in LINK’s market value known as the flag pole, followed by consolidation into a pennant. The continuation pattern forecasts a 53% bull rally to $45.2, determined by adding the flag pole’s height to the breakout point at $29.41. The oracle token sliced through the pennant’s upper trend line on April 1, signaling the start of an uptrend. So far, LINK has surged nearly 43%, which leaves another 7% surge on the table. While the target is only a few ticks away, the Momentum Reversal Indicator seems to have flashed a cycle top signal in the form of a red-one candlestick on the 12-hour chart. This setup projects a one-to-four candlestick correction to either $39.05 or $37.19 demand barriers. Following this pullback, investors can expect a healthy surge in bullish momentum that propels Chainlink price toward the intended target at $45.2. In case of a sell-off, LINK might even bounce off the support level at $34.75, which provided a strong foothold for the second leg of the bull rally after the breakout. LINK/USDT 12-hour chart While things seem to be looking up for Chainlink price, a range-bound move below the $34.75 level could spell disaster for the oracle token. Additionally, a sudden spike in selling pressure might result in descent to $31.8, which is an 8% drop. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY could slip back to the 108.00 area – UOB FX Street 1 year Chainlink Network will now receive high-quality price feeds from traditional markets via data provider New Change FX. LINK price shows signs of exhaustion as the MRI flashed a cycle top signal. A minor retracement will arrive before a climb to record levels at $45.2. Chainlink adoption has been on a tear during this recent bull run. Likewise, LINK price explored into the discovery phase as it erected new all-time highs. 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