Chainlink (LINK), a decentralized oracle network, is showcasing significant bullish momentum as it surpassed $20 and approaches an all-time high in 2024. Despite record sales, it has not been viewed favorably due to a recent incident that prompted security concerns.

Today, we explore Chainlink's price movement and shed light on the key factors that can impact the oracle network in 2024.

Chainlink Price Shows Resilience Despite Altcoin Downturn

While the broader cryptocurrency market is showing negative movement, Chainlink (LINK) has remained a strong force above its $20 support. The project was developed in 2017 as a diversified network powered by an open-source community that allows two or more blockchains to communicate via data transmission. 

After a year of failing to surpass the $10 threshold, it has been propelled by the current bullish rebound in the cryptocurrency market. According to CoinMarketCap, Chainlink's price (LINK) is currently above $20, and the project has a market capitalization of more than $12 Billion, making it among the top 20 cryptocurrency projects. 

Can LINK Token Maintain Its Spot Above $20?

Over the past week, the LINK token slowed sluggish momentum with low upward movement, indicating a more pessimistic investor trend. Chainlink reached a high of $21 before retracing and settling around $20.

With diminishing market faith in the token, bears are currently leading the market, and many experts are skeptical that it will maintain its position over $20. Chainlink's (LINK) current prospects are uncertain, and the coming weeks will be key in determining which path its community chooses.

Algotech (ALGT) Presale Soars Past Significant $2 Million Milestone

Algotech (ALGT) is a cutting-edge AI trading platform that has gained market momentum with an exceptional sales track record. It rose to prominence after raising more than 1.1 million dollars in only two days in a private seed round.

The platform is currently in its stage 2 presale, and the ALGT token is now available for $0.06, with a predicted growth to $0.15 by the end of the presale. Some analysts have gone as far as to predict that the token price may hit $1 once the ALGT token is listed on leading exchanges. 

On-chain data suggests major bullish momentum for Algotech with the presale selling out over 45 million tokens in two weeks. This surge is further driven by the project’s deflationary tokenomics. With the massive jump in demand and the token's inherent scarcity, the price is highly likely to increase following the end of the presale.

Investors are excited about bullish action for the project after the imminent halving. Given the current low price of $0.06, this is the ideal time for early investors to become a part of the project and benefit from the upward trajectory. 

Learn more:

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