Chainlink Technical Analysis: Market Outlook on July 9, 2025

Technical analysis of Chainlink on July 9, 2025, exploring key support/resistance and indicators.

As of July 9, 2025, Chainlink (LINK) is trading around $13.592, maintaining a mildly bullish trend. Analyzing the daily timeframe chart, Chainlink has recently bounced sharply from the $13.58 support zone and is now testing a key resistance zone at $15.3 to $15.5. This zone has historically acted as a strong price barrier, and a breakout above it could signal a continuation of the bullish trend. Technical analysis indicates that Chainlink is moving within a short-term ascending channel. The channel’s midline at around $13.8 has served as dynamic support, with the price recently bouncing from this level. The primary support zone lies between $13.5 and $13.8, aligning with the 38.2% Fibonacci retracement level. This zone has previously acted as a strong demand area and could prevent further declines if a correction occurs. The RSI indicator on the daily timeframe is around 54, indicating mildly bullish conditions. This suggests the market is not yet overbought, leaving room for further growth. The MACD indicator is on the verge of a bullish crossover, supporting the potential for continued upward movement. Trading volume has increased recently, signaling strengthening bullish momentum. However, sustained higher volume is needed to confirm the breakout above $15.3 and prevent a pullback below this level. If the price stabilizes above $15.5, the next target could be the $17.95 to $20 range. From a price pattern perspective, a bullish pennant pattern is visible on the 4-hour timeframe, suggesting potential for continued upward movement. This pattern formed after a sharp rally followed by consolidation. A breakout above the upper trendline of this pennant could target prices around $17.5. However, risks remain. If Chainlink fails to break the $15.3 resistance, a pullback toward the $13.5 support zone is possible. Fundamental factors, such as new Chainlink partnerships, advancements in the CCIP protocol, and broader crypto market developments, could also influence price action. Traders should employ proper risk management strategies. Overall, Chainlink’s current outlook is bullish, but traders should closely monitor volume changes and price behavior around the $15.3 resistance zone.