Chainlink 
LINKUSD is gaining traction on the cryptocurrency market, with analysts pointing to a possible bullish situation that might gasoline vital positive aspects. In accordance to crypto analyst Ali, LINK seems to be in the course of a bullish retest at its breakout zone, which could pave the best way for an increase to $22, or maybe $28.
Chainlink $LINK appears to be in the course of a bullish retest on the breakout zone. This setup may pave the best way for a transfer to $22 and even $28! pic.twitter.com/6wJ755gE2a
A bullish retest happens when an asset breaks through a critical resistance level, then pulls back to reaffirm that level as new support before continuing its upward trend. In LINK’s case, the token recently broke above $20, and the recent rebound hints at a retest of this level, which could set it up for the next leg up.
If LINK successfully retests the $20 level and maintains buyer momentum, the next target could be $22 in the short term, with $28 as a possible extension if bullish pressure persists.
Whales in accumulation
On-chain data reveals that large investors have been actively adding to their LINK holdings, acquiring tokens worth tens of millions of dollars.
In the past week, Ali reported that whales accumulated over 1.6 million Chainlink LINKUSD in two weeks. This surge in whale exercise usually serves as a bullish sign, suggesting that main gamers count on future worth positive aspects.
The recent accumulation spree comes at a time when LINK has been consolidating after its latest rally.
Chainlink rose steadily from a low of $12.20 to attain $20.28 on July 21, the place it encountered resistance. The LINK worth fell amid a broader market sell-off to a low of $17.17 earlier than rebounding.
The restoration has marked three straight days, reaching an intraday excessive of $19.56 early within the Monday session. At press time, Chainlink was up 3.53% within the final 24 hours to $19.53.
