The post Whale Transfers 2.54 Million Tokens as Bullish Pattern Emerges appeared on BitcoinEthereumNews.com.

TLDR Chainlink has reclaimed the $17 support level, trading above weekly SuperTrend and mid-Bollinger Band RWA token market cap increased to $61B with Chainlink positioned as the top oracle platform SEC Chair Paul Atkins expressed support for asset tokenization, boosting LINK sentiment An inverse head and shoulders pattern on the daily chart points to a $23-$30 target zone Recent whale movement shows transfers of 2.54 million LINK from Bybit to unknown wallets Chainlink (LINK) has shown renewed bullish momentum after reclaiming key technical levels near $17. The cryptocurrency is now positioned for a potential rally toward higher price targets, with some analysts suggesting it could reach $30 in the coming period. The token is currently trading around $17.07, up 2.10% over the past day. This places LINK among the top 15 cryptocurrencies with a market capitalization of $11.22 billion. Technical indicators are aligning in favor of continued upward movement. On the weekly chart, LINK has retested the 20-week Simple Moving Average at approximately $16.99, which has transformed into a strong support level. Chainlink Price on CoinGecko The SuperTrend indicator has turned green on the weekly timeframe, suggesting a long-term bullish scenario. LINK trading above both the SuperTrend and Bollinger midline supports the thesis of a sustained rally. An inverse head and shoulders pattern has emerged on the daily chart. This formation is typically considered a reversal pattern, and LINK has already broken above the neckline resistance. The Average Directional Index is pointing upward, indicating increasing strength in the uptrend. If the current pattern holds, analysts believe this could send LINK toward $23 in the short term, with potential to reach $30 if momentum continues. SEC Support Fuels Tokenization Growth Recent statements from SEC Chair Paul Atkins have contributed to the positive sentiment surrounding Chainlink. Atkins expressed support for asset and…

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Filed under: News - @ May 15, 2025 12:28 pm