Chainlink on June 9, 2025: Will LINK Reach $20?

LINK traded at $14.4 on June 9, 2025. Will institutional growth and network drive a bullish trend?

On June 9, 2025, Chainlink (LINK) traded at approximately $14.4, reflecting a V-shaped recovery after a recent 14.4% drop to a key support level of $13.58. This price action follows a volatile week marked by significant whale activity and conflicting news. Analysts believe Chainlink is consolidating but has the potential to climb to $20. Technical analysis shows LINK has formed an inverse head-and-shoulders pattern and held the critical $13.5 support. The Relative Strength Index (RSI) at around 52 indicates neutral conditions with a bullish tilt. A breakout above $14.74 resistance could drive LINK toward $16-$20. Otherwise, it may retreat to the $13.5 support. A key development is Chainlink’s recent collaboration with ANZ Bank and Fidelity International under Hong Kong’s oversight to facilitate a swap between an Australian stablecoin and Hong Kong’s CBDC. This underscores Chainlink’s growing role in bridging traditional finance with blockchain. Additionally, a Visa report highlighting Chainlink’s role in addressing institutional smart contract challenges has boosted confidence in the project. Whale activity was significant, with over 4.4 million LINK moved on June 7, signaling confidence in future growth, though a transfer of 403,000 LINK to Binance created short-term selling pressure. LINK trading volume on major exchanges also rose 20% to $290 million on June 5. Macroeconomic factors also influence LINK. U.S.-China trade talks on June 9 could boost global liquidity, supporting risk-on assets like Chainlink. However, SEC discussions on DeFi regulation could pose risks. In the long term, analysts are optimistic, forecasting LINK could reach $30-$70 by mid-2025, driven by the expansion of the CCIP protocol and institutional adoption. Investors should remain cautious of short-term volatility and the market’s dependence on Bitcoin. Overall, Chainlink’s strong technical and institutional backing makes it an attractive asset, but it requires careful analysis and risk management.