LINK Stuck Near 6-Year Support Despite Major Partnerships With Robinhood and Ondo

Chainlink (LINK), one of the leading oracle platforms, has struggled to find a recovery throughout February. Despite multiple pieces of positive news, selling pressure has remained persistent.

As price action reaches a support level that has held for six years, February could be the decisive moment for LINK to enter a new price phase.

Positive Developments in February Fail to Offset Selling Pressure

Price data shows that the current level around $8.4 aligns with a long-term support trendline that has held since 2020. This makes LINK’s price behavior in the coming days a key reference point for analysts when forming longer-term projections.

Chainlink (LINK) Price Performance. Source: TradingView

Recent signals from strategic partnerships could, in theory, strengthen LINK’s appeal.

Robinhood has launched a public testnet for Robinhood Chain, a Layer 2 network on Arbitrum designed for tokenized assets. More importantly, Chainlink serves as the platform’s oracle provider. The integration allows developers to leverage Chainlink’s data feeds, interoperability, and compliance standards to support advanced tokenization use cases.

JUST IN: @RobinhoodApp launches public testnet and partners with Chainlink as the oracle platform for Robinhood Chain.

Builders can leverage Chainlink’s data, interoperability, and compliance standards to power advanced tokenization use cases.

Robinhood