Chainlink (LINK) and Tron (TRX) recently announced a partnership, with TRON DAO integrating Chainlink’s decentralized price oracles into the network. This integration marks a significant milestone for TRON’s DeFi infrastructure, introducing more secure and reliable data feeds for smart contracts. The move could fuel a jump for each other’s platforms’ native tokens, LINK and TRX, according to market experts.
The integration positions TRON to compete in the growing asset tokenization market, which currently has a valuation of around $3.5 billion according to Coingecko data. Until now, most major asset tokenization projects have been built on Ethereum due to Chainlink’s native tooling there.
Chainlink LINK and Tron TRX Momentum Reflects in Crypto Forecast
At press time, LINK has been stagnant around $16 for the past week, while TRX is up 4% in the same period to $0.27. Fortunately, LINK has still had a great month, climbing over 30% in 30 days. Additionally, Chainlink’s price just closed above the resistance range with a bullish engulfing candle, signaling that momentum is building. Investors are hoping that for Chainlink, this means $20 is finally on the way.
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LINK must overcome critical resistance levels to hit its target. Notably, LINK has previously faced rejection at the $15 resistance level, which remains a major hurdle for the asset. Chainlink is finally cruising above this level and sustaining the bullish momentum, backed by rising trading volume, which could support its journey to $20.
As for Tron TRX, TRON’s price has rebounded from a key support level at $0.2165 to reach $0.28 this week, flipping the crucial resistance level at $0.2584, which it had struggled to break above several times this year. Technical indicators support a bullish outlook for TRX. TRON has formed an ascending channel and is approaching its upper boundary. A successful breakthrough above $0.28 could propel TRX toward the $0.30 resistance level in the near term, with potential to reach the 2024 high of $0.4467, representing an approximate 60% increase from current levels.
Tronx TRX and Chainlink LINK are two popular altcoins, and their near-term surges or declines could be tied together due to the new integration.
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