The chainlink has been trading in a downtrend since January, slipping from $ 17 level and forming lower highs for months. Throughout Q1, the price of the link struggles to remain at the top 50-day transfer of the average and faces repeated decline in a downward resistance line.
That pattern can begin to move. In late April, the link climbed above the 50-day SMA and began to come together just below the trend. Until May 5, the token traded at $ 14.10, testing a major resistance area between $ 14.00 and $ 14.50. This level has denied some breakout attempts in the past. The current setup has entrepreneurs watching closely.
Meanwhile, the chainlink continues to expand throughout the web3 ecosystem. The Protocol announced 16 new integrations throughout 15 different blockchains in the last week. Large names like Elixir and Kelpdao are now using chainlink services such as CCIP and Proof of Reserve.
Despite this, some critics argue that the increase in adoption has not yet reflected the link price. Through the technical pressure building and split of sentiment on the market, we asked AI to give us some predictions for the link in May.
Pessimistic Scenario: Link fell to $ 12.50- $ 13.00
If the link fails to break the trend and Bitcoin drops below $ 90k, the altcoins can fight again. A decline at a level of $ 14.50 could send the link price back to the $ 13.00 zone, or even up to $ 12.50, where the price found in April.
Entrepreneurs can get income quickly without a follow-through coming after a breakout attempt. If the negative sentiment around the chainlink roadmap or the broader market increase, the link may see more downside.
Realistic Scenario: Link Price Trades between $ 13.80 and $ 15.50
If the price of bitcoin holds above $ 90k and avoids the heavy sales pressure link, the price may stabilize a narrow range. With the 50-day SMA at $ 13.68 and its price integration is just above it, the link can hover between $ 13.80 and $ 15.50 in May.
This situation assumes the market will remain balanced, with buyers and sellers cancel each other. The growing chainlink integration may provide background support, but entrepreneurs can wait for a confirmed breakout above the downward trend.
Optimistic Scenario: The link destroys $ 17- $ 19
If the chainlink price closes precisely above $ 15.50 along Strong volume and Bitcoin rally towards $ 70k, the token can break down the moon falls. Momentum could drive a link to $ 17- $ 19, the levels of the last seen in January.
Growing chainlink developer activity and institutional interest, such as integration of Elixir's $ 180m+ TVL, can help boost bullish emotions. If more projects join the Chainlink Build or adopt a CCIP, the price may climb faster than expected.
Final Chainlink Price Thoughts in May
The link trades at $ 14.10. The chart shows signs of compression near a long-term resistance, and the market can gear up for a breakout or breakdown.
The outcome of May depends greatly on the stability of Bitcoin, the investor's appetite for the Altcoins, and how much the Link Ecosystem ecosystem develops. Whether the breakout occurs or not, the current price of the link zone should be watched.
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