Technical Analysis of Chainlink: Market Outlook on June 29, 2025

Technical analysis of Chainlink on June 29, 2025, focusing on support/resistance and key indicators.

As of June 29, 2025, Chainlink (LINK) is in a short-term bullish trend, with technical analysis indicating potential for continued upward movement but possible consolidation or a minor correction at resistance levels. The current price hovers around $14.300, near a key resistance zone between $15.500 and $16.680. This zone has historically acted as a strong price ceiling, and recent price action shows rejection from this level, indicating seller presence in this range. On the four-hour chart, Chainlink has recently formed a bullish flag pattern, which could signal a continuation of the upward trend. A critical support zone lies around $13.580, which has previously shown strong demand. If this level breaks, the next support is at $12.350, aligning with the 0.618 Fibonacci retracement level. The Relative Strength Index (RSI) is currently at 63, indicating bullish momentum but nearing neutral territory. This RSI level may suggest a temporary consolidation before the next move. The 200-day Moving Average (MA200) at approximately $13.400 serves as strong dynamic support. Maintaining the price above this level reflects sustained buyer strength, but a break below could increase selling pressure. From a price pattern perspective, Chainlink is forming an ascending triangle, which typically leads to a strong upward move. However, proximity to the $16.680 resistance could lead to consolidation or a minor pullback to $14.000. Fundamental factors, such as the expansion of the CCIP protocol and new partnerships with major financial institutions, are also positively impacting Chainlink’s price volatility and have recently garnered significant attention. For traders, the optimal strategy is to wait for confirmation of a breakout above the $16.680 resistance or a pullback to the $13.580 support. Setting stop-loss orders below $13.580 for long trades or above $16.680 for short trades is advisable. Risk management is critical in this volatile market, as Chainlink, due to its key role in the DeFi ecosystem, is prone to sudden price movements. Overall, the current outlook suggests Chainlink may test higher resistance levels in the short term, but consolidation or a minor correction around $15.500–$16.680 is likely. Holding above the MA200 could indicate mid-term bullish potential. Traders should closely monitor the market and avoid impulsive decisions.