New Partnership With AP Boosts Bullish Chainlink Predictions

  • AP looks to Chainlink’s network to help preserve the sanctity of its news data.
  • Chainlink gains 8.89% on Monday following crypto market recovery.
  • Clearance of resistance at 32.31 opens the door for new 2021 highs.

As large sections of the crypto market continue to see increased interest, a new partnership could boost Chainlink price predictions to the upside.

An official announcement from the Associated Press (AP) says it is planning to use the Chainlink blockchain to store some of its critical news data. AP plans to create a Chainlink node dedicated to enabling developers to develop applications for storing fact-based, factual information.

This partnership highlights the importance of using the blockchain as a potential tool to eliminate the scourge of fake news. AP’s reputation for factual news reportage has been on the rise, and it aims to secure this status using the Oracle-based Chainlink node.

This is not the first time Chainlink is collaborating with a media stakeholder. An earlier collaboration with a blockchain startup called Civil aimed to secure intellectual property rights and promote factual and responsible journalism.

The LINK/USDT is on the verge of a breakout, having violated the 32.31 resistance level. If time/price filters confirm the breakout, the pair would have clear skies to target the 34.98 barrier (7 September high). If the advance continues, 39.25 and 43.99 will line up as additional targets to the north.

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On the flip side, rejection at 31.74 promotes a potential pullback to 28.76. If this support fails to hold, 26.27 and 22.47 become additional targets to the south, with a potential pitstop at 24.00 (27 August/7 September lows).

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