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Chainlink (LINK) price rallied around 7% today to break the daily resistance at $11.20 as the bulls now target levels above the $12 mark.
Fundamental analysis: More clients for Chainlink
Fetch.ai, the UK artificial intelligence lab, said yesterday it has successfully integrated Chainlinkās price feeds. The Price Reference data lets consumers verify the prices of assets while offering improved security versus price manipulation.
The AI labās network utilizes open-source technology, providing its users with access to artificial intelligence on a global-level secure dataset to perform difficult coordination tasks in the modern economy.Ā
BREAKING: @Fetch_ai adopts @chainlink's #decentralized oracle network to connect @Fetch_ai with valuable access to real-world economic data š²Want to find out more? š¤Head over to š https://t.co/f6gAX61IGy#AI #blockchain pic.twitter.com/56CKVj2FZk
ā Fetch.ai (@Fetch_ai) October 8, 2020
The company is working on a decentralized machine learning network to build smart needs for AI-driven autonomous software agents to carry out significant economic tasks in favour of individuals, businesses, and organizations.Ā
The integration of price feeds is the first step in Fetch.aiās adoption of Chainlinkās decentralized network that will provide the AI lab with useful access to real-world economic, currency, and commodity price data.Ā
Further upgrades will include the improvement, development, and launch of real-world applications in sectors like mobility, finance, logistics, and IoT ecosystems which depend on a decentralized oracle network that serve as a bridge between the physical world and the digital world.Ā
āBy integrating Chainlink into the Fetch.ai network, we are taking the necessary steps needed to further couple real-world data with autonomous software,ā said Humayun Sheikh, Chief Executive of Fetch.ai, referring to the integration.
Sheikh also said the development would furtherly āspeed up the adoption of Fetch.ai autonomous software agents and provide the necessary information for them to communicate with sophistication in real-life scenariosā.
Technical analysis: Breakout taking place
LINK/USD price has rallied 7% to trade above the daily horizontal resistance line at $11.20. A daily close above this point should open a new short-term wave of LINK buying. Moreover, the 200 DMA, which comes in at $10.88, will offer additional support to buyers.Ā Ā
LINK/USD daily chart (TradingView)
On the upside, the bulls will now be aiming to reach levels above the $12 handle. A huge resistance block is shaped by horizontal lines at $13.50 and $14.50, acting as a major target for the buyers.
Summary
Fetch.ai, an artificial intelligence lab based in Cambridge announced yesterday it has completed the integration of Chainlinkās price feeds. Elsewhere, LINK has broken out of the range as the bulls look ready to print levels above $12.
The post LINK breaks out, eyes higher levels in the coming days appeared first on Invezz.
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