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  • Can Chainlink Surge Past $14.40 or Is a Drop to $12 Coming?
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Can Chainlink Surge Past $14.40 or Is a Drop to $12 Coming?

Dennis Gatheca 8 July 2025
Chainlink LINK Image via Cryptonewsfocus.com

Chainlink Cryptonewsfocus.com

  • Chainlink is stuck near $13.30, forming a tight symmetrical triangle with no clear breakout yet.
  • Despite bullish setups and strong development, whale control and falling user activity weigh down the token’s chances.

Chainlink (LINK) is once again testing investor patience. Hovering around $13.31, the token has slipped slightly by 2.16% despite signs of a potential reversal. A symmetrical triangle on the charts, a common indicator of breakout setups, has LINK traders on edge as they await confirmation in either direction.

Chainlink Faces Resistance at $13.60

LINK recently bounced from the $13.10–$13.43 range, forming a symmetrical triangle pattern. However, it struggles to push beyond a critical ceiling at $13.60. The RSI sits at a neutral 51.3, while the MACD shows little directional bias—adding to the uncertainty.

CHAINLINK PRICE CHART FOR 24 HOURS PERIOD

A breakout above $13.60 could ignite a rally to $14.40 or even $16. On the flip side, a failure to hold support may drag LINK down toward $12.85 or $12.50.

Whale Dominance and Declining Activity Weigh on Price

Despite being the most active Ethereum-based project in development, Chainlink’s on-chain performance tells a different story. Whale wallets still control 45.66% of LINK’s total supply, making it highly sensitive to large transactions.

🧑‍💻 Here are crypto's top coins that are partially or fully associated with the Ethereum-based ecosystem, by development activity. Directional indicators represent each project's ranking positioning since last month:

➡️1) @chainlink $LINK 🥇
➡️ 2) @starknet $STRK 🥈
➡️ 3)… pic.twitter.com/mlUItoIoLg

— Santiment (@santimentfeed) July 7, 2025

Even with major institutional partnerships involving JPMorgan and Mastercard, active wallets on the Chainlink network have plunged more than 64% since April. This sharp decline in user activity dampens bullish expectations.

Bitcoin’s dominance—now at 64.47%—adds more pressure by diverting both retail and institutional capital away from altcoins like Chainlink.

Analysts Warn of Fakeouts Without a Confirmed Breakout

While analyst Jens (@jens_connect) sees a textbook double-bottom pattern with price targets up to $29.92, others urge caution. CryptoWzrd warns that LINK needs to break above $14.40 on daily and intraday charts before any bullish narrative gains traction.

LINK Daily Technical Outlook:$LINK closed indecisively and is testing its most important Daily lower high trend line. I expect high volatility tomorrow, leading to more trade opportunities. I’ll track the intraday chart to get quick scalp opportunities 🧙‍♂️ pic.twitter.com/PQleSDDwZ8

— CRYPTOWZRD (@cryptoWZRD_) July 8, 2025

Without such confirmation, traders are likely to witness only short-lived price spikes, not sustained upward movement. The market remains in limbo, waiting for Chainlink’s next decisive move.

DISCLAIMER:
The views and opinions expressed herein are solely those of the author  and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.

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