Technical analysis by StockScaper about Symbol LINK: Buy recommendation (6/9/2025)

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.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