Chainlink: Bullish Potential with New Partnerships and Technical Patterns

Analysis of LINK’s trend on June 29, 2025, focusing on new partnerships, technical patterns, and ETF inflows.

Chainlink (LINK), the native token of the decentralized oracle network Chainlink, is trading at approximately $13.53 as of June 29, 2025, up about 1.4% in the past 24 hours. However, the cryptocurrency has experienced significant volatility in recent months, driven by a combination of technical, fundamental, and geopolitical factors. Technical analysis indicates that LINK is currently trading within a falling wedge pattern on the daily timeframe, which is often considered a bullish formation, especially in oversold conditions. The price has recently faced selling pressure at the $14.8 resistance zone, failing to break through. This level is significant due to multiple unsuccessful breakout attempts. If LINK cannot surpass this resistance, it may retreat to support levels at $12.5 or $11.5, which have historically acted as price reversal points. The RSI is currently at 47.2, signaling a neutral market but with early signs of bullish momentum. Trading volume has also increased in recent weeks, indicating renewed investor interest. From a fundamental perspective, Chainlink’s recent partnership with Mastercard on June 24, 2025, which enables over 3 billion Mastercard cardholders to purchase cryptocurrencies directly on-chain, has drawn significant attention to the project. This collaboration, along with the Cross-Chain Interoperability Protocol (CCIP), has strengthened Chainlink’s adoption in decentralized finance (DeFi) and traditional finance (TradFi). Reports indicate that the number of active Chainlink wallets reached an all-time high in June 2025, and trading volume on decentralized exchanges (DEXs) associated with the network has increased. Additionally, the recent unlock of 17.875 million LINK tokens worth $149 million, while potentially introducing temporary selling pressure, has helped increase liquidity on exchanges like Binance. However, geopolitical tensions, particularly in the Middle East, have impacted market sentiment, increasing selling pressure in the crypto market. These factors, combined with chart patterns like the falling wedge and false breakouts, suggest market indecision. Nevertheless, LINK’s positive correlation with Bitcoin, which is currently trading near its all-time high, could act as a positive driver. If Bitcoin continues its upward trend, Chainlink may benefit from this momentum. For traders, the recommended strategy is to wait for confirmation of a breakout above $14.8 or a pullback to key supports. Given the market’s high volatility, strict risk management and trading on reputable exchanges like Binance and Coinbase is advised. Traders should monitor chart patterns like the falling wedge and indicators like MACD to avoid potential bull or bear traps. Overall, Chainlink is at a critical juncture. While the short-term outlook appears bearish due to resistance pressures, new partnerships, technical patterns, and increased network activity suggest bullish potential in the mid-term. Traders should closely monitor the market and prepare for potential volatility.