Technical analysis by Phillipklh about Symbol LINK: Buy recommendation (10/7/2025)

Looking at Chainlink this morning, it shows us just another 1-2 setup to trade on. Watching this to develop top-down, we are in the 3rd wave of the cycle, the 3rd wave of the primary cycle and now the 3rd wave of the intermediate cycle starts. Within the intermediate cycle I suspect the minor cycle to from another 1-2 soon, presenting us a beautiful chance to buy in. Besides that, I can recommend taking a swing-long trade here aiming for 40$, with the stop loss at the red marked low. This scenario also fits the expectation for Ethereum as those coins correlate. The alternative scenario would mean to break the red marked low and drop further. The indicators also support this scenario, as the RSI rises from the oversold zone and momentum builds up. Funding rates are also at typical levels for this wave and the open interest shows inflows. Have a meaningful week, Phillip