Chainlink has printed a weekly bullish hammer after testing the blue fibbonaci retracement support area. This is further evidence that Wave 2 (Green) has bottomed or close to bottoming, and that Wave 3(Green) to the upside is happening soon. A common target for an ABC (White) correction is the 1.618 trend based fib extension at $121.15.
I uploaded a video on Youtube concerning Stablecoin Adoption and Chainlink's Proof of Reserves (POR) role in stablecoin infrastructure that TradingView isn't allowing me to publish.
I uploaded a video on Youtube concerning Stablecoin Adoption and Chainlink's Proof of Reserves (POR) role in stablecoin infrastructure that TradingView isn't allowing me to publish.
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Zooming into the 1 HR Timeframe, we can see a 5 wave impulse to the upside followed by a 3 Wave ABC Pullback into the blue fibbonaci retracement support area. As long as the support area between $11.42 and $13.47 holds as support, I'm in favor of the next parabolic move to the upside starting soon
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cointelegraph.com/news/hong-kong-government-chainlink-ccip-cbdc-pilot-projectBANG! Hong Kong to use Chainlink protocol in CBDC pilot projec!
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project* New Ethereum update coming tonightNote
reuters.com/business/finance/societe-generale-launch-dollar-pegged-stablecoin-2025-06-10/Societe Generale becomes first major bank to launch dollar-pegged stablecoin! STABLECOIN SUPERCYCLE!
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Nasty whipsaw with a potential weekly shooting star candle printing. Price is still holding the blue fibbonaci retracement support area between $11.42 and $13.47. Trade setup is still valid. Only point I would get concerned with Chainlink is if we get any break below the April Low at $10.10. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.