Chainlink Technical Analysis: Market Outlook on June 9, 2025

Technical analysis of Chainlink on June 9, 2025, covering support/resistance zones, indicators, and trends.

The technical analysis of Chainlink (LINK) on June 9, 2025, indicates a market in consolidation with potential for a mid-term bullish move. Chainlink’s current price is around $15.88, down 2.58% from the previous day. The price is trading within a consolidation range between $12.80 and $20.85, signaling the market’s anticipation of a significant move. On the daily timeframe, Chainlink is forming an ascending triangle pattern, typically interpreted as a bullish continuation pattern. This pattern is defined by resistance at $20.85 to $22.57 and support at $12.80 to $14.00. A breakout above $20.85 could propel the price toward $35.00 to $44.00, while a break below support may lead to a decline to $9.80. The RSI stands at 60, indicating bullish momentum with possible short-term consolidation. The MACD shows a bullish crossover, suggesting increasing bullish momentum, but confirmation requires higher trading volume. Volume has declined recently, but a spike on a resistance break could validate a bullish move. From a fundamental perspective, Chainlink continues to gain traction due to its critical role in providing real-world data to smart contracts and the expansion of its CCIP protocol. Reports of new partnerships with traditional financial institutions and increased network activity bolster the bullish outlook. However, correlation with Bitcoin could increase selling pressure if the broader market declines. On the 4-hour timeframe, Chainlink is trading within an ascending channel, but signs of bearish divergence in the RSI suggest possible short-term consolidation or correction. The key support at $12.80, aligned with the 0.618 Fibonacci level, has repeatedly prevented deeper declines. If this level holds, the likelihood of breaking the $20.85 resistance and targeting $35.00 increases. For traders, the best approach is to wait for breakout confirmation. For long positions, a strong break above $20.85 with high volume could be a solid entry point. For short positions, a drop below $12.80 could offer short-term opportunities. Risk management with stop-loss orders at $23.00 for longs and $11.90 for shorts is recommended. Overall, Chainlink is at a critical juncture. The current consolidation could precede a strong bullish move, particularly if fundamental factors like increased network adoption persist. Traders should stay prepared for sudden shifts and monitor Bitcoin’s trend closely.