Hedera Launches Chainlink CCIP Driving HBAR Price Up by 20%

Chainlinks CCIP is now live on Hedera, enabling secure cross-chain interoperability.
The integration expands access to over 46 blockchain networks and enhances DeFi and tokenized RWA potential.
HBAR surged 20.14% post-announcement, showing strong technical reactions across multiple chart patterns.

Hedera has officially launched Chainlinks Cross-Chain Interoperability Protocol (CCIP) on its mainnet. This milestone, announced via Hederas official blog, marks a new era of secure, seamless communication across blockchain networks.

With Hedera now a full participant in Chainlinks Scale program through support from the HBAR Foundation, developers gain access to a reliable protocol that facilitates token transfers, message passing, and smart contract triggers across 46+ blockchains.

The integration enables Hedera-based decentralized applications (dApps) to leverage the greater liquidity and user base of the multi-chain universe.

It also offers exposure to Chainlinks dependable oracle products, like Data Feeds and Proof of Reserv, which support the integrity of innovative DeFi and tokenized real-world asset (RWA) platforms.

Chainlink CCIP, which is known for $20 trillion+ of on-chain value enablement and battle-tested infrastructure, brings exceptional security and developer flexibility.

One of the special features it offers is Cross-Chain Token (CCT) support, which gives developers complete management and possession of token deployment. CCTs may now be bridged or issued between chains using tools such as Token Manager, all built on top of the zero-downtime infrastructure of CCIP.

HBAR Rebounds From Key Support at $0.13

Hederas native token HBAR reacted sharply to the announcement, recording a 20.14% gain in the past 24 hours and currently trading at $0.1656.

This surge comes in tandem with a larger technical setup that signals strong market confidence. On the charts, HBARs price bounced off a critical Level of support among institutions, a $0.13-$0.14 order block that fueled a rally that is in tandem with larger bullish sentiment.

This level was a springboard, which reflected high demand among well-known market players. Chart analysis further suggests that the rally is potentially the leading edge of a significant uptrend, driven by robust fundamentals and increasing ecosystem involvement.

RSI and MACD technical signals indicate near-term caution on mild overextension but favor the longer-term bull trend in the event that the support level holds.

HBAR Shows Consolidation with Upward Momentum

HBARs technical environment is presently one of consolidation and upward strength. It is a tug-of-war between profit-taking and accumulation in the form of a descending triangle on the daily chart near $0.14.

Meanwhile, a longer-term ascending channel pattern indicates a healthy uptrend, with the price currently testing support near the channels lower bound.

If the purchasers are able to maintain strength, HBAR can test resistance levels of $0.18$0.20 in the upcoming sessions, perhaps gearing up for a break above $0.273 and beyond.

In contrast, a decline below $0.14 may indicate vulnerability, which may result in a further correction closer to $0.11. In any event, Chainlinks CCIP integration is a stimulus that is likely to impact market direction and sentiment in the future.

Text source: TronWeekly

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