As of July 10, 2025, Chainlink (LINK) is trading at approximately $14.152, in a short-term consolidation phase with long-term bullish signs visible. This technical analysis examines the current market state, key resistance and support zones, and major indicators. Price Trend and Market Structure Analysis After peaking at 17.95 in early 2025, Chainlink entered a consolidation phase, fluctuating between 12.80 and 15.50. This price action suggests accumulation for the next major move. Daily and 4-hour charts show bullish patterns, such as higher lows, indicating sustained buyer interest. However, resistance at 15.30–$15.50, aligning with the 200-day moving average, has capped further upside. Resistance and Support Zones The key resistance zone is around 15.30–15.50, which has rejected the price multiple times. A high-volume breakout (over 30% above the 20-day average) could target 17.95, consistent with previous highs. On the support side, 13.58 has acted as a strong demand zone, with $12.80 as the next critical support. These levels could prevent further declines if the price pulls back. Technical Indicators The RSI on the daily timeframe is at 55, indicating a neutral to bullish state. This suggests room for upward movement without being overbought. The MACD is nearing a bullish crossover, which could signal increasing bullish momentum. However, declining trading volume in recent days indicates trader caution. The 50-day moving average at around $14.80 acts as a key dynamic level. Price Pattern Analysis Chainlink’s daily chart shows a bullish flag pattern, with the price approaching the upper resistance line. A high-volume breakout could trigger a new bullish wave. From an Elliott Wave perspective, Chainlink may be in the third wave of a larger bullish cycle, potentially leading to significant gains. An inverse head and shoulders pattern is also forming on the weekly timeframe, signaling long-term bullish potential. Risks and Scenarios Bullish Scenario: If Chainlink holds the 13.58 support and breaks the 15.50 resistance, it could target 17.95 and potentially 20 by the end of summer 2025. Bearish Scenario: A break below 13.58 could lead to a drop to 12.80 or even $12.50, signaling a deeper correction. Conclusion Chainlink is currently in a short-term consolidation phase but shows long-term bullish potential. Traders should monitor volume and price action at the key 15.50 and 13.58 levels. Breaking the 15.50 resistance could spark a new bullish wave, while holding the 13.58 support is crucial for the bullish outlook.