{"id":133239,"date":"2020-12-14T20:00:00","date_gmt":"2020-12-14T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-chainlink-may-recover-despite-link-price-death-cross\/"},"modified":"2020-12-14T20:00:00","modified_gmt":"2020-12-14T17:00:00","slug":"how-chainlink-may-recover-despite-link-price-death-cross","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-chainlink-may-recover-despite-link-price-death-cross\/","title":{"rendered":"# How Chainlink  may recover despite LINK price &#8216;death cross&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26e976d947f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26e976d947f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-chainlink-may-recover-despite-link-price-death-cross\/#What_is_the_death_cross_and_why_is_LINK_seeing_a_relief_rally\" >What is the death cross and why is LINK seeing a relief rally?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/how-chainlink-may-recover-despite-link-price-death-cross\/#Chainlink_fundamentals_still_strong\" >Chainlink fundamentals still strong<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># How Chainlink  may recover despite LINK price &#8216;death cross&#8217;<br \/>\n<\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>\nThe price of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/chainlink-link\">LINK<\/a>, the native cryptocurrency of Chainlink, has increased by 10% in the past three days with the recovery coming despite a \u201cdeath cross\u201d on the LINK\/BTC chart.<\/p>\n<p>Josh Olszewicz, a cryptocurrency trader and technical analyst, said the LINK\/BTC chart encountered its first death cross since 2018.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/f7a97662-73ca-4b85-b46e-4d2cd385efc7.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_death_cross_and_why_is_LINK_seeing_a_relief_rally\"><\/span>What is the death cross and why is LINK seeing a relief rally?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In technical analysis, the term death cross is a candle chart formation that occurs typically before a large selloff. It lights up when an asset\u2019s short-term moving average falls under its long-term moving average.<\/p>\n<p>This formation normally indicates a short-term trend reversal as it tends to emerge as an asset sees a steep correction.<\/p>\n<p>From Nov. 23 to Dec. 11, the price of LINK declined by around 30% within 17 days. Due to its sharp short-term drop the death cross <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared on the LINK\/BTC chart. LINK\u2019s short-term moving average fell under its long-term moving average for the first time in two years.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">first death cross on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> since 2018 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/cvKHlGCRIF\">pic.twitter.com\/cvKHlGCRIF<\/a><\/p>\n<p>\u2014 Josh Olszewicz (@CarpeNoctom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CarpeNoctom\/status\/1337107674455040010?ref_src=twsrc%5Etfw\">December 10, 2020<\/a>\n<\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>But a relief rally becomes likely if an asset begins to recover strongly from the death cross. Since the indicator appears after an asset sees a major pullback, the probability of a large short-term uptrend also rises as the death cross materializes.<\/p>\n<p>On Dec. 13, buoyed by the recovery of the decentralized finance (DeFi) market, LINK posted a 10.5% rally within 12 hours. LINK has been consolidating since then, but the initial relief rally could lead to a broader uptrend if LINK price remains above the $12.3 support level.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chainlink_fundamentals_still_strong\"><\/span>Chainlink fundamentals still strong<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At its core, Chainlink is an oracle network that provides relevant market data to DeFi applications.<\/p>\n<p>Most major DeFi protocols rely on Chainlink\u2019s oracles to fetch information that is used across lending and other financial applications.<\/p>\n<p>Ryan Selkis, the founder of Messari, noted that oracle infrastructure is highly important for DeFi. Albeit its valuation remains high, Selkis said that he acknowledges the importance of data for DeFi. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/twobitidiot\/status\/1338284032774303745\">said<\/a>:<\/p>\n<blockquote><p>\u201cThough we don&#8217;t think LINK is DeFi, oracle infra is critically important (and frequently exploited). Chainlink kills it on the partnerships front. I don&#8217;t grok the economics at $10bn, but I do get the importance of reliable DeFi data pipes.\u201d<\/p><\/blockquote>\n<p>One of the major catalysts for LINK is its continued partherships and collaborations in the DeFi space. In the past two days alone, Unilayer and Dock integrated Chainlink\u2019s oracles into their DeFi platforms. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Chainlink is now live on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BinanceSmartChain?src=hash&amp;ref_src=twsrc%5Etfw\">#BinanceSmartChain<\/a> as their recommended oracle and used by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BreederDodo?ref_src=twsrc%5Etfw\">@BreederDodo<\/a> on BSC mainnet. Developers now can build smart contract applications on BSC with native access to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\">#Chainlink<\/a> oracles like Price Feeds. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mYFFVWsjnl\" data-amp=\"https:\/\/www-binance-com.cdn.ampproject.org\/c\/s\/www.binance.com\/en\/amp\/blog\/421499824684901349\/New-on-Binance-Smart-Chain-Chainlink-Oracles\">https:\/\/t.co\/mYFFVWsjnl<\/a><\/p>\n<p>\u2014 Chainlink &#8211; Official Channel (@chainlink) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/chainlink\/status\/1337064454375305217?ref_src=twsrc%5Etfw\">December 10, 2020<\/a>\n<\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Most notably, Binance Chain integrated Chainlink\u2019s oracle network on Dec. 10, allowing all decentralized applications on the blockchain to use Chainlink. A Binance blog post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/blog\/421499824684901349\/New-on-Binance-Smart-Chain-Chainlink-Oracles\" data-amp=\"https:\/\/www-binance-com.cdn.ampproject.org\/c\/s\/www.binance.com\/en\/amp\/blog\/421499824684901349\/New-on-Binance-Smart-Chain-Chainlink-Oracles\">read<\/a>:<\/p>\n<blockquote><p>\u201cBinance Smart Chain (BSC) has successfully integrated the Chainlink decentralized oracle network on its mainnet as its recommended oracle solution. As a result, Chainlink is now available for use by any and all BSC smart contracts.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/how-chainlink-may-recover-despite-link-price-death-cross\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# How Chainlink may recover despite LINK price &#8216;death cross&#8217; &#8221; The price of LINK, the native cryptocurrency of Chainlink, has increased by 10% in the past three days with the recovery coming despite a \u201cdeath cross\u201d on the LINK\/BTC chart. Josh Olszewicz, a cryptocurrency trader and technical analyst, said the LINK\/BTC chart encountered its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":133240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/0dfbf7b1-abbe-453f-a265-a40c63941a49.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75167,73785],"class_list":["post-133239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-chainlink","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/133239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=133239"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/133239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/133240"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=133239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=133239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=133239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}