LINK is the top gainer with a 17% pump as analysts say the cryptocurrency could boost its returns by 100x more.

Chainlink’s price has surged 17% in the past 24 hours, trading at $16.33 as of 4 a.m. ET, with trading volume surging 217% to $1.08 billion.

According to CoinMarketCap, this was enough to make LINK the biggest gainer among the top 100 cryptocurrencies by market capitalization.

Chainlink’s price surge began almost simultaneously with the announcement of results from a new Smart NAV industry project between DTCC, Chainlink, and 10 of the world’s largest financial institutions. Their collaboration helps provide key mutual fund data on-chain.

The project described the Depository Trust and Clearing Corporation (DTCC) as a leading post-trade market infrastructure that processes more than $2 million annually. The new pilot shows how Chainlink and DTCC can make net worth data available on virtually any blockchain, regardless of whether it is public or private.

In other words, their partnership will enable automated data dissemination and access to historical data. This will ultimately open up new use cases related to fund tokenization.

This achievement is likely to have a major impact on the blockchain world, so it is no surprise that LINK rose 17% following the announcement.

Chainlink price prediction

LINK price has surged over the past 24 hours, reaching resistance at $16 after an initial surge. After several hours of trying to breach it, the coin finally succeeded. But now the question is where does this go from here?

According to some technical indicators, LINK price may be preparing for a correction, which indicates that the resistance has not actually been broken and may reject the price, pushing it back down.

One of the reasons why this may happen is the coin’s Relative Strength Index (RSI) performance. This shows that the RSI value has reached overbought territory, causing a slight decline.

This means that traders have started cashing out and are selling more LINK coins than buying them. The RSI value slightly exceeded 70 before dropping back to 66.02. This is not a confirmation of the coming decline yet, as the bulls could still turn things around. However, LINK is likely to see a correction in the coming hours as the broader market also begins to see cryptocurrency trading in the red.

However, the coin’s Bollinger Bands show that this is not a sure thing, as they have started to widen once again after being relatively close over the past few hours. This bullish signal suggests that the coin could still move a little higher, potentially turning the $16 resistance into a new support level.

In other words, LINK is now at a crossroads, and it is unclear which path it will take. This makes it a risky investment, but the risk could still pay off if the bulls break this resistance permanently.

A promising alternative to Chainlink

Chainlink’s recent performance warrants a respectable performance, but it’s possible that the world’s first Learn-To-Earn token will perform even better in the coming months.

The project in question is called 99Bitcoins (99BTC), and originates from the classic cryptocurrency platform of the same name. 99Bitcoins has been educating newcomers to the cryptocurrency industry on various cryptocurrency-related concepts since 2013.

We are now launching a platform that offers new interactive learning modules and makes learning about cryptocurrencies not only engaging but rewarding.

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