Chainlink’s 7% Bounce: Is It a Miracle or a Mirage? 🚀

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Chainlink’s price has made a 7% jump on the daily chart, which is like a toddler taking a step forward in a world of skyscrapers. But don’t get too excited-weekly charts suggest it’s just a brief detour in a long, winding road of bearishness. 🐢

  • Chainlink’s price bounced from $13.70, now eyeing $17.50 like a hungry seagull at a picnic. But the weekly Head and Shoulders pattern is giving it the side-eye, predicting more gloom. 🧠👀
  • The technical weakness in Chainlink’s price occurs amid a backdrop of major fundamental developments, most notably the recent partnership with Japan’s SBI Digital Markets. Because nothing says “financial revolution” like a blockchain and a cup of green tea. 🍵

Chainlink price technical outlook

Chainlink (LINK) price is up 7% over the past 24 hours, currently trading around $16.20. The daily chart shows a recent bounce from the descending channel support near $13.70. The price now appears to be tracking toward a retest of the descending trendline resistance, which marks the upper boundary of the channel and projects to around $17.50. Because who doesn’t want to chase a moving target? 🎯

Momentum indicators on the daily chart support the potential retest of that resistance. The RSI (45) is recovering from oversold levels and rising, while the MACD histogram is printing green and signaling the early stages of a bullish crossover. But let’s not get ahead of ourselves-this is the same chart that once predicted a snowstorm in the Sahara. 🌪️

However, Chainlink price appears to be forming a massive Head and Shoulders pattern on the weekly chart, with the neckline support around $10. If broken, it would confirm the bearish pattern and open the door for further downside. Because nothing says “optimism” like a chart that’s more dramatic than a daytime soap opera. 🎭

Viewed through the lens of this weekly formation, the recent bounce appears to be a short-term relief rally rather than the start of a potential reversal. Unless Chainlink price can break above the $17.50-$18.00 resistance with follow-through, price action is likely to remain corrective within the broader bearish structure. Because the market’s favorite game is “how long can we pretend?” 🕹️

Chainlink continues to expands its cross-chain footprint

The technical weakness in Chainlink price occurs amid a backdrop of major fundamental developments. Because why have one problem when you can have a whole portfolio of them? 🧠

Most notably, Chainlink has recently secured a major partnership with Japan’s SBI Digital Markets to advance tokenized finance solutions in Asia. Because nothing says “trust” like a blockchain and a handshake. 🤝

Other noteworthy developments include a successful pilot by UBS, a Swiss multinational investment bank and one of the world’s largest financial institutions, which tested onchain subscription and redemption of a tokenized money market fund using Chainlink’s oracle infrastructure. Because even banks need to keep up with the times-or at least pretend they do. 🏦

Additionally, Dinari has recently joined forces with Chainlink and S&P Dow Jones Indices to bring the S&P Digital Markets 50 Index onchain later this year. Because who doesn’t want their stock market to feel like a cryptocurrency? 📈

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2025-11-10 11:27