- Chainlink price corrects from all-time highs of $25.51.
- Bull pennant, bullish crossover on the 1H chart calls for more gains.
- RSI turns south but holds well above the midline, in the bullish zone.
Chainlink (LINK/USD) appears to have stalled its corrective pullback from the record highs of $25.51 reached Saturday, as the bulls regain control after taking a brief breather early Sunday.
The seventh most traded cryptocurrency enjoys a market cap of $9.857 billion, having risen almost 25% over the past seven days. At the press time, the coin hovers around $24.50, reversing a dip to $23.77 lows.
LINK/USD: Bulls look to retest record highs
LINK/USD: Hourly chart
LINK/USD has charted a bullish flag breakout on the hourly sticks and battles the 21-hourly moving average (HMA) at $24.60, as of writing.
A sustained move above the latter could drive the pair towards the $25 mark, above which the lifetime high would be retested.
Adding credence to the upside break, the altcoin witnessed a bullish crossover in the last hours after the 100-HMA pierced the 200-HMA from below.
Therefore, the path of least resistance appears to the upside, with the Relative Strength Index (RSI) still holding ground above the positive region, although off the higher levels.
The buyers have the pattern target measured above $28 on their radars.
However, if the correction picks up pace, the price could drop to test the pattern resistance-turned-support at $23.94.
A failure to defend that level could offer extra zest to the LINK bears, with the bullish 50-HMA support at $23.37 likely to challenge their commitment to the downside.
Further south, if the falling trendline (pattern) support at $23.85 caves in, the bullish formation will fail, opening floors for further correction.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.