Chainlink, MATIC, and SushiSwap Price Analysis: 17 May

Bitcoin dipped to $29.2k on 16 May but was able to climb back above $30k in the past few hours. The heavy trading volume of the past few days was unable to keep BTC below $30k, and a bounce upward could be seen toward $32k and even as high as $36k.

Timeline of Chainlink, Polygon, Sushiswap

Since striking its ATH a year ago, Chainlink (LINK) bears have made a visible effort to find fresher lows. The lower peaks coupled with even lower troughs helped the sellers pierce through the 15-month trendline support (now resistance).

Chainlink price analysis suggests a fall to the $6.500 mark The closest support level lies at $7.00 LINK faces resistance at the $8.00 mark. The Chainlink price analysis shows that the bulls faced resistance at the $8.00 price level which has rejected the recent bull rally causing the price to fall back to.

Elite Token, a crypto system on the Polygon (MATIC/USD) blockchain to create an ecosystem uniting the mobile industry, influencers, and NFTs, announced a partnership with Elimobile to launch its first-ever telco that uses blockchain and tokenization, Invezz learned from a press release. Unlocking the power of the entire ecosystem Launched in Italy, the Elimobile's telco The post Polygon-based Elite Token launches blockchain telco with Elimobile appeared first on Invezz.

Chainlink price analysis shows LINK price on the up and provides a bullish sentiment over the current trend. Price rose more than 8 percent during the day's trade, rising from lows of $5.50 reached on May 12, 2022.

The price of Chainlink (LINK) has fallen to the low of $5.50 as the bulls have bought the dips. On May 12, a bearish candle shows a protruding long tail. The tail of the long candle is pointing down, indicating that there is strong buying pressure at current support.

Chainlink, despite not being a traditional cryptocurrency, has a significant number of investors holding over $3 billion in market cap. All thanks to the use cases it presents to DeFi protocols across many chains.

The Chainlink price analysis shows the coin is correcting today as it has retraced back to $7.09. Overall, LINK/USD is bearish as it continues to slide downwards following the prolonged downtrend, and today's price function is also on the bearish side.

TRM Labs, which claims to be the industry “leader” in crypto compliance and risk management solutions, announced its integration with Polygon, an Ethereum scaling platform “onboarding millions to Web3, to provide a full suite of anti-fraud and financial crime tools to members of the Polygon... Read More

Terra's total value locked suffered a major fall, losing as much as $14 billion, amid the de-pegging fiasco resulting in reduced DeFi investor interest and a bearish market. The protocol lost around 78% in TVL since the first quarter of 2022.

Chainlink price analysis shows the recent LINK price is up by 19.41 percent after recovering from a bearish run that has been seen in the last 48 hours. The prices dipped to lows of $6 and the bulls came in to push prices back up.