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Chainlink ($LINK) is gaining traction on the cryptocurrency market, with analysts pointing to a potential bullish scenario that could fuel significant gains. According to crypto analyst Ali, $LINK appears to be in the middle of a bullish retest at its breakout zone, which might pave the way for a rise to $22, or perhaps $28.
Chainlink $LINK looks to be in the middle of a bullish retest at the breakout zone. This setup could pave the way for a move to $22 or even $28! pic.twitter.com/6wJ755gE2a
— Ali (@ali_charts) July 27, 2025
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 $LINK holdings, acquiring tokens worth tens of millions of dollars.
In the past week, Ali reported that whales accumulated over 1.6 million Chainlink ($LINK) in two weeks. This surge in whale activity often serves as a bullish signal, suggesting that major players expect future price gains.
The fresh accumulation spree comes at a time when $LINK has been consolidating after its recent rally.
Chainlink rose steadily from a low of $12.20 to reach $20.28 on July 21, where it encountered resistance. The $LINK price fell amid a broader market sell-off to a low of $17.17 before rebounding.
The recovery has marked three straight days, reaching an intraday high of $19.56 early in the Monday session. At press time, Chainlink was up 3.53% in the last 24 hours to $19.53.