TLDR
- LINK has broken out of a bullish inverted head and shoulders pattern and surged over 30% recently
- Whale activity increased with 2.54 million LINK ($41.6M) transferred from Bybit to unknown wallets
- Retail transactions have increased significantly: $10K-$100K transfers up 130.20%
- RWA (Real World Asset) token market cap jumped to $61B with Chainlink positioned as a key infrastructure provider
- SEC Chair Paul Atkins’ supportive stance on tokenization has boosted investor confidence in LINK
Chainlink (LINK) has shown impressive price movement in recent days, with a surge of over 30% and a breakout of a bullish inverted head and shoulders pattern. Trading at approximately $17.07 at press time, the cryptocurrency has caught the attention of both whales and retail investors alike.
The blockchain transaction tracker Whale Alert reported two large transactions totaling 2.54 million LINK moving from Bybit to an unknown wallet within 24 hours. One transfer involved 1.25 million LINK ($20.5 million), while the second moved 1.289 million LINK ($21.1 million), likely belonging to the same whale.
These transactions occurred following the breakout of the bullish price pattern and may represent accumulation by whales or institutions.
It’s not just large investors showing interest. On-chain data from IntoTheBlock revealed a strong spike in transaction volume from retail and long-term holders. Transfers between $1K-$10K jumped 87.21%, while larger retail transactions ($10K-$100K) surged by an impressive 130.20%.
Market Structure and Technical Indicators
LINK has created higher lows and higher highs since late 2023, establishing a classic bullish pattern. The latest bounce from the $16 area confirms the continuation of this upward trend.
The daily chart reveals that LINK has successfully broken out of the inverted head and shoulders pattern and retested the breakout level. Technical analysis suggests that if LINK maintains itself above the critical $15.70 mark, it could potentially rally by 35% to reach the $23.15 level in the coming days.
$LINK is one of my comfy holds and the chart looks BULLISH
Reclaiming total range POC and now consolidating strong against major resistance
Drawn levels are my tp's, any pullbacks from here are for bidding
Besides the healthy chart, @chainlink is a beast with insanely strong… pic.twitter.com/SyTWyfcuew
— Lennaert (@LennaertBTC) May 13, 2025
The Relative Strength Index (RSI) stood at 65, approaching but not yet in the overbought zone. This indicates that LINK still has room to continue its upward momentum before entering overbought territory.
Despite the bullish price action, trading volume dropped by 15%, showing reduced participation during the ongoing correction. This is typical consolidation behavior following strong price movements.
The Average Directional Index (ADX) is pointing upward, suggesting increasing strength in the uptrend. If momentum continues, some analysts believe LINK could eventually reach $30.
On the weekly chart, LINK has retested the 20-week Simple Moving Average (SMA), or middle Bollinger Band, at approximately $16.99. This zone has now turned into a strong support base.
RWA Growth and SEC Sentiment
A major factor driving LINK’s positive outlook is its position in the growing Real World Asset (RWA) space. The tokenized asset market has surged from $47 billion to $61 billion in just one month.
Chainlink, the largest RWA token by market capitalization, plays a key role in this growth by providing decentralized oracle services across blockchains. Investors view Chainlink as a core infrastructure provider in the tokenization ecosystem.
Recent statements by SEC Chair Paul Atkins have further boosted confidence in LINK. Atkins expressed support for asset and securities tokenization, stating the U.S. must “keep pace with innovation” and consider regulatory updates for on-chain assets.
Chairman Paul Atkins' remarks at the Crypto Task Force Roundtable today: https://t.co/qdz19Hdgyl pic.twitter.com/eJgwXNkJko
— U.S. Securities and Exchange Commission (@SECGov) April 25, 2025
His goal to position the U.S. as the “crypto capital of the planet” aligns with Chainlink’s long-term value in enabling cross-chain asset integration.
As of May 13, LINK’s market capitalization stands at $11.22 billion, placing it among the top 15 cryptocurrencies. The fully diluted valuation is around $17.07 billion, suggesting long-term investor confidence.
If the support at $16 holds, the technical path appears favorable for movement to $18.50, then to $20 and up to the upper Bollinger Band at $24.80.
However, this bullish outlook could fail if the LINK price falls below the $15.30 level.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
