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Chainlink price prediction as Pyth Network and Everlodge plot bull trends

Wednesday, November 29, 2023 03:45 AM | Invezz via QuoteMedia

Chainlink price prediction as Pyth Network and Everlodge plot bull trends

2023-11-29 03:45:12 ET

In the ever-evolving realm of decentralized finance (DeFi), notable shifts are underway, marked by the recent launch of Chainlink’s Staking v0.2 and the bullish trajectory of Payth Network (PYTH) post-bearish retracement.

Simultaneously, Everlodge (ELDG) is gearing up for a groundbreaking move in the world of fractional vacation home ownership, trending ahead of the December holidays. Each project, from PYTH’s consolidation to Chainlink’s strategic moves and Everlodge’s innovative approach, paints a compelling picture of the dynamic trends shaping the crypto landscape.

Payth Network (PYTH) bearish retracement ends

In the fast-evolving landscape of decentralized finance (DeFi), Payth Network (PYTH) recently marked a turning point after a bearish retracement, signalling renewed bullish momentum. The retracement, a 25% move, found solid support just above $0.40 and the 20-day moving average (20DMA) at $0.41.

Despite initial resistance at the all-time high (ATH) of $0.55, the consolidation above key levels sets the stage for a second rally leg, with PYTH showing a robust 50% week-on-week gain following the $77 million worth of PYTH tokens airdrop.

The Pyth Network recently distributed $77 million worth of PYTH tokens through a retrospective airdrop, rewarding past community members and DeFi participants. The airdrop and the network’s mainnet launch and token-led governance introduce a new era for the protocol.

PYTH/USD price chart

PYTH’s retracement, though substantial, emphasized a healthy consolidation phase, setting the stage for a potential upward trajectory. Technical indicators, including the RSI and MACD, signal favourable conditions for a rebound, with an upside short-term target of around $0.47, representing a 10% gain.

Chainlink (LINK) headed to $17 after Staking v0.2 launch

Chainlink (LINK) is experiencing significant positive momentum following the successful launch of Staking v0.2 on the Ethereum blockchain. The recent price surge, currently at $14.72 with a 5% increase in the last 24 hours, indicates a bullish trajectory.

Despite a short-term bearish trend, the LINK price is well-supported, finding stability above $13.90. The upcoming move will push Chainlink towards the $16.0 and $17.0 levels, representing a potential 15% increase post the Staking v0.2 launch on the Ethereum mainnet.

Chainlink’s success post-Staking v0.2 launch reflects the growing demand for decentralized oracle solutions on the Ethereum blockchain. The successful implementation of Staking v0.2 on Ethereum enhances the utility of the LINK token, attracting further interest from investors.

The ongoing bullish sentiment, supported by technical indicators, positions LINK for further gains, with an imminent push towards the upper trading channel.

Chainlink price chart

The RSI indicator seems to have bounced back up avoiding the oversold area while the divergence in the MACD indicator is narrowing, pointing an end to the retracement and a potential resumption of the bullish trend.

Everlodge (ELDG) trending for fractional vacation home ownership as holidays near

In the realm of real estate and blockchain innovation, Everlodge (ELDG) is carving its niche as it trends ahead of the December holidays.

Positioned as a revolutionary property marketplace, Everlodge enables users to invest fractionally in high-end accommodations such as hotels, vacation homes, and luxury villas. The platform, unique in its fusion of fractional vacation home ownership, timeshare, and NFT technology, is gearing up for a groundbreaking launch.

The Everlodge ecosystem introduces a novel concept—digitizing and minting hotels and luxury villas into NFTs. These NFTs, representing ownership, are then fractionalized, allowing users to purchase smaller portions.

As the value of the property increases, so does the NFT price, offering a dynamic investment model. The marketplace, launchpad for property developers, rewards club, and lending platform collectively create a comprehensive ecosystem for users to co-own, invest, and generate passive income.

Everlodge, with its innovative approach to fractional vacation home ownership on the blockchain, aligns with the evolving needs of users seeking diverse investment opportunities. As the platform trends ahead of the December holidays with its ELDG token presale, it anticipates substantial participation from users eager to explore the fusion of real estate and blockchain technology.

The ELDG presale is currently in its seventh stage and a single ELDG token is going for $0.025 USDT and the price is scheduled to increase to 0.027 USDT.

Conclusion

The crypto landscape is witnessing exciting developments across Pyth Network, Chainlink, and Everlodge.

Everlodge’s unique ecosystem and forward-thinking approach position it as a real estate and blockchain disruptor. As the project heads towards its launch, the market is poised for a paradigm shift in the way users approach fractional ownership and investment in high-value properties. To join the Everlodge ecosystem, you can purchase ELDG tokens in the ongoing Everlodge presale .

The post Chainlink price prediction as Pyth Network and Everlodge plot bull trends appeared first on Invezz

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