Despite developments, why is Chainlink’s [LINK] unable to break out of bearish shackles

ambcrypto.com:

Chainlink is a decentralized network set up with the objective of extending the functionality of blockchains, by connecting smart contracts to real-world data, events, payments, and off-chain computation in a highly tamper-resistant and reliable manner.

Whilst providing its Chainlink Adoption Update on May 22, it was revealed that between May 16 to May 22, a total of 16 integrations were made for 3 Chainlink services. These services included the Chainlink Feeds, Chainlink VRF and the Chainlink Keepers. 

It was also revealed that these integrations were made across the 4 different blockchains namely; Ethereum, Polygon, BNBChain and Fantom.

Recording a 5% spike in price in the last 24 hours, the network’s native token, LINK appeared to have made some progress. But whilst these integrations were implemented over the course of the last 7 days, how did this token react?

Up 6% in the last 24 hours, the LINK token appeared to have suffered decline in the last 7 days. As these integrations were implemented over the course of the last 7 days, the price of the LINK token  took on a downtrend. Standing at $7.84 on May 16, the token saw a 6% loss in its price in just 7 days. 86% shy of its ATH of $52.88, if this momentum of cross chain integrations and use cases are maintained, it might be on the way to reaching the same3 once again. 

Furthermore, within the same period, the market capitalization suffered a gradual decline. From the $3.66 billion marked as market cap on 16 May, this stood at $3.45b at press time despite the many integrations implemented for the Chainlink Network

Although it suffered a price decrease in the last 7 days, the same period appeared to have been marked by a bullish divergence for the LINK token. As could be