Artificial Intelligence Collaboration: Chainlink Joins Forces with Aethir in Pursuit of $25 Markup
In the world of cryptocurrency, Chainlink (LINK) has been making waves with its recent performance and strategic partnerships. As of today, the trading price of Chainlink is approximately $23.7, according to the latest data.
Recently, the price of Chainlink briefly rose above $23.5, marking a 2.7% gain. However, if the price is unable to close above the $25 mark, further upside potential may be limited, with the next resistance at $26.1.
The trading volume for Chainlink has been somewhat lacklustre, as indicated by the Delta Volume indicator's negative reading of -317,000. This suggests that selling pressure is still dominant, signalling potential volatility in the near future.
In terms of partnerships, Chainlink has joined AethirCloud's AI Unbundled Alliance, an industry initiative aimed at driving the development of AI-based Web3 infrastructure. The strategic partnership was officially announced on September 5, 2023.
As part of this alliance, Chainlink Labs will be the prize sponsor of a hackathon and will provide special grants for participants of the AI Unbundled program. However, no new information has been released about these special grants.
Chainlink's focus on AI is in line with the Ethereum Foundation's recent move to launch the dAI team, aiming to build decentralized blockchain infrastructure to bridge blockchain technology and AI systems.
Developers joining the AI Unbundled Alliance will gain early, prioritized access to the Chainlink Runtime Environment (CRE). This environment enables the creation of workflows across blockchains and external systems, potentially opening up a plethora of possibilities for developers and the broader crypto ecosystem.
The MACD line for Chainlink is currently at 0.37, below the signal line at 0.41. This indicates uncertain market conditions, but a bullish crossover could strengthen the chances of retesting the $25 resistance level for Chainlink.
It's important to note that no new information about whether the bulls can break the $25 resistance was provided in the text. Similarly, there is no information about whether the Fed's interest rate cut in the US led to a significant increase in trading volumes for Chainlink compared to Ethereum and Tron.
In conclusion, Chainlink's current trading price stands at around $23.7, with the potential for further upside if the price can close above $25. Its strategic partnership with AethirCloud's AI Unbundled Alliance and the benefits of the Chainlink Runtime Environment could provide exciting opportunities for developers and the crypto community at large. However, the uncertain market conditions and dominant selling pressure suggest potential volatility in the near future.
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