{"id":567213,"date":"2021-06-06T17:50:26","date_gmt":"2021-06-06T14:50:26","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=567213"},"modified":"2021-06-06T17:50:26","modified_gmt":"2021-06-06T14:50:26","slug":"chainlink-link-integrated-by-55-projects-in-the-month-of-may","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/chainlink-link-integrated-by-55-projects-in-the-month-of-may\/","title":{"rendered":"Chainlink (LINK) Integrated by 55 Projects in the Month of May"},"content":{"rendered":"<ul>\n<li><strong>Chainlink technology was integrated into 55 projects in the month of May<\/strong><\/li>\n<li><strong>Chainlink is currently integrated into a total of 567 projects globally<\/strong><\/li>\n<li><strong>The Chainlink project recently celebrated its second mainnet launch anniversary<\/strong><\/li>\n<li><strong>The 200-day MA is providing adequate support for Chainlink<\/strong><\/li>\n<li><strong>However, a death cross is on the horizon for Chainlink that could cause a retest of $15<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/chainlink-link-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Chainlink<\/a> oracles and price feeds were successfully <a href=\"https:\/\/chainlinktoday.com\/may-2021-recap-chainlink-announces-55-integrations-lamelo-ball-dynamic-nfts-two-year-mainnet-anniversary\/\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">integrated into 55 projects<\/a> in the month of May. At the time of writing, Chainlink&#8217;s ground-breaking technology <a href=\"https:\/\/en.ethereumworldnews.com\/chainlinks-network-is-growing-at-a-rate-of-12-per-month-analyst\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">has been integrated<\/a> into a total of <a href=\"https:\/\/chainlinkecosystem.com\/ecosystem\/\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">567 projects globally<\/a> with the number growing on a daily basis.<\/p>\n<h2>Chainlink Celebrates 2-Year Mainnet Anniversary<\/h2>\n<p>Also in the month of May, Chainlink celebrated its two-year mainnet anniversary during which the project&#8217;s founder, Nazarov, thanked the community for its consistent and continuous support.<\/p>\n<h2>Chainlink&#8217;s 200-day MA Continues To Hold as Support<\/h2>\n<p>With respect to price action, the month of May was an eventful one for Chainlink.<\/p>\n<p>To begin with, LINK set an all-time high of $53 on May 10th. However, this achievement was short-lived as the crypto markets were rocked by a selloff catalyzed by speculation of <a href=\"https:\/\/en.ethereumworldnews.com\/tesla-has-not-sold-any-bitcoin-btc-elon-musk\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Tesla selling its Bitcoin holdings<\/a> and <a href=\"https:\/\/en.ethereumworldnews.com\/china-reiterates-its-2018-ban-on-bitcoin-mining-and-crypto-trading\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">China reiterating its 2018 ban<\/a> on BTC mining and crypto trading.<\/p>\n<p>Consequently, Chainlink started what would be a two-week pullback, worth 71.7%, that would see LINK hit a local low of $15 on the 23rd of May. The price of LINK soon rebounded to the $28 price level and is currently trading at $27.162 and slightly above the 200-day moving average. This important moving average can be seen (green) in the following daily LINK\/USDT.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th.png\"><img class=\"aligncenter size-full wp-image-567215\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th.png\" alt=\"\" width=\"950\" height=\"585\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th.png 950w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th-300x185.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th-770x474.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th-500x308.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th-240x148.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/LINKUSDT-June-6th-717x442.png 717w\" sizes=\"(max-width: 950px) 100vw, 950px\" title=\"\"><\/a><\/p>\n<h2>A Death Cross Looms for Chainlink (LINK)<\/h2>\n<p>Also from the chart, it can be observed that the 50-day moving average (white) is on a path towards intersecting with the 200-day moving average in the next few weeks. Such an event would be the dreaded death cross that usually confirms a bear market for any asset.<\/p>\n<p>In the case of Chainlink, several indicators point towards a possible retest of the $15 price area in the weeks to follow.<\/p>\n<p>To begin with, and from the chart, the daily trade volume has been decreasing with the daily MACD highlighting a slowdown in buying of LINK. The MFI is also on a path towards entering overbought territory and the RSI confirms the reducing buying of Chainlink in the crypto markets.<\/p>\n<p>In summary, Chainlink has a high probability of dropping back down to the &#8216;teen&#8217; levels towards the end of June.<\/p>\n<p>However, such an event can be negated by Bitcoin breaking past the $40k resistance and forging a path towards $50k. But Bitcoin is <a href=\"https:\/\/en.ethereumworldnews.com\/25-of-bitcoin-users-have-fled-since-tesla-stopped-accepting-btc\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">also facing a death cross<\/a> of its own that would accelerate a drop by Chainlink in the second half of June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink technology was integrated into 55 projects in the month of May Chainlink is currently integrated into a total of 567 projects globally The Chainlink project recently celebrated its second mainnet launch anniversary The 200-day MA is providing adequate support for Chainlink However, a death cross is on the horizon for Chainlink that could cause a retest of $15 Chainlink oracles and price feeds were successfully integrated into 55 projects in the month of May. At the time of writing, [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108032],"tags":[5749,108258,108163],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567213"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=567213"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562602"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=567213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=567213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=567213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}