bullish

Solana

Chainlink

would

Chainlink price pulled back this week after facing rejection near a key Fibonacci resistance level, while traders closely watched whether bulls could defend the important support-resistance flip zone near $10.
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 <li>Chainlink price retested the key $10.10 support-resistance flip zone after facing rejection near the $10.79 Fibonacci resistance level.</li>
 <li>LINK remained above the 0.382 Fibonacci retracement support near $9.93 as the Supertrend and Aroon indicators continued signaling bullish market structure.</li>
 <li>Analysts are watching whether bulls can defend the $10 region to sustain momentum toward the next resistance zones near $11.6 and $12.8.</li>
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According to data from crypto.news, Chainlink (<a href="https://crypto.news/price/chainlink/" rel="noopener noreferrer nofollow">LINK</a>) traded around $10.2 at press time on May 14 after briefly rallying toward $10.8 earlier this week. The token has recovered significantly from its February lows near $7.2, though momentum has started slowing after the latest breakout attempt stalled near the 0.5 Fibonacci retracement level.
The recent rebound in LINK has been supported by improving sentiment across the broader crypto market alongside growing institutional interest in tokenized real-world assets, a sector where Chainlink continues positioning itself as a core infrastructure provider.
Investor sentiment around the protocol also strengthened this week after Chainlink <a href="https://crypto.news/myriad-integrates-chainlink-to-automate-prediction-market-payouts/" rel="noopener noreferrer nofollow">announced</a> new integrations tied to its Cross-Chain Interoperability Protocol and data infrastructure offerings, further expanding its role within the tokenization and decentralized finance ecosystem.
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At the same time, derivatives sentiment has continued improving, with LINK futures open interest and funding rates remaining positive over recent sessions, signaling that traders still maintain a moderately bullish positioning despite the latest pullback.
On the daily chart, Chainlink recently broke above the key 0.382 Fibonacci retracement level near $9.93 before rallying toward resistance around the 0.5 retracement zone near $10.79, where sellers became increasingly active.
<figure class="wp-block-image size-full"><img width="1827" height="954" src="https://media.crypto.news/2026/05/LINKUSDT_2026-05-14_16-54-04.webp" alt="Chainlink price is testing a major support/resistance zone on the daily chart.">
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 Chainlink price is testing a major support/resistance zone on the daily chart — May 14 | Source: <a href="https://crypto.news/price/chainlink/" rel="noopener noreferrer nofollow">crypto.news</a>
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The current pullback now places focus on the important horizontal support-resistance flip zone near $10.10, which previously acted as resistance during the broader consolidation phase before turning into short-term support after the recent breakout.
As long as LINK continues holding above this region, the broader short-term structure remains constructive. A successful defense of the $10 area could allow bulls to regroup for another attempt toward the $10.8 resistance zone, followed by the 0.618 Fibonacci retracement near $11.64.
A look at the Supertrend indicator also supports the moderately bullish outlook. Notably, the indicator recently flipped bullish on the daily timeframe, signaling that buyers currently retain short-term trend control despite the ongoing consolidation.
Meanwhile, the Aroon indicator continues to favor bullish momentum, with the Aroon Up remaining above 70% while the Aroon Down stays near 0%, suggesting buyers still maintain relative dominance within the current trend structure.
However, momentum appears to be gradually cooling after LINK’s strong rally over the past several weeks. Failure to hold above the key $10 support-resistance zone could weaken bullish momentum and potentially expose the token to deeper pullbacks toward the next major support regions near $9.93 and $8.87.
On the upside, bulls would likely need to reclaim the $10.79 resistance level decisively to restore stronger momentum and potentially open the door for a move toward the $11.6 and $12.8 Fibonacci resistance zones in the short term.
For now, traders remain focused on whether Chainlink can stabilize above the crucial $10 region as the market waits for a stronger catalyst capable of reigniting bullish momentum.
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Chainlink price tests major S/R zone at $10, will bulls regain momentum?

crypto.news

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