Chainlink retests bullish breakout: Can LINK bounce to $23?

Key Points

1. Chainlink (LINK) has retested a bullish price action pattern, indicating a potential 20% rally to $23 if market conditions remain favorable.

2. Whale transactions for LINK, ranging from $1 million to $10 million, surged by over 1,400%, with over 8 million LINK tokens purchased recently.

3. LINK's price has risen by 58% from $12.33 to $19.40, with a 9% gain in the past 24 hours, holding strong near $19.41.

4. The Relative Strength Index (RSI) for LINK was 82, suggesting potential for a correction in the near future.

5. Exchanges recorded an inflow of approximately $1.74 million worth of LINK tokens in the past 24 hours, indicating some holders may be taking profits.