Chainlink Price Eyes Crucial Break Above $9
Chainlink's price is showing renewed bullish momentum as it breaks key EMA resistance. Trading around $8.72, LINK has successfully climbed above both the 26-day and 50-day exponential moving averages (EMAs), improving its near-term technical outlook.
The recovery began after LINK established a local bottom near $7.20 earlier this month. Since then, the token has formed a consistent pattern of higher highs and higher lows, signaling that buyers are gradually regaining control.
Unlike previous rebound attempts, this rally has been supported by stronger trading volume, suggesting genuine market participation rather than a temporary short squeeze. The next major challenge for Chainlink sits in the $8.80 to $9.00 resistance zone.
A decisive daily close above this resistance could pave the way for a rally toward the psychological $10 mark, an area that previously acted as significant resistance in May. Technical indicators also favor the bulls, with the Relative Strength Index (RSI) having climbed above 60 without entering overbought territory.