- Chainlink (LINK) successfully bounced off the $23 support after a liquidity grab, indicating a possible recovery towards the upper limit of $28.
- The retest confirms market structure stability, creating conditions for accelerated buying momentum and positioning $LINK for a continuation of bullish price action.
- Recent adoption by the U.S. Department of Commerce and ThalaLabs enhances Chainlink’s network utility, strengthening its role in decentralized data integration.
Chainlink $LINK has recently retested its $23 support zone following a liquidity grab, raising questions about a potential upward move toward the $28 resistance level. Price action shows early signs of stabilization after absorbing selling pressure below support.
Liquidity Sweep and Support Retest
The 4-hour chart for $LINK shows a liquidity grab just below $23, which cleared stop losses and absorbed sell-side orders. This move temporarily pushed price lower but created conditions for a sharp reversal.
After reclaiming the $23–$23.5 support zone, $LINK is undergoing a backtest. This retest is crucial to confirm that the previous dip was a temporary market sweep and not a shift in trend.
Bitcoinsensus noted that a successful defense of this level could fuel buying momentum, potentially driving price toward $28–$28.5. The prior swing high near $28 remains a key target for traders following market structure logic.
Potential Path Toward $28
A confirmed backtest at $23 would indicate that liquidity has been absorbed, and buyers are positioned to push $LINK higher. This scenario aligns with common patterns where reclaimed support zones set the stage for bullish continuation.
If $LINK maintains the $23 support, acceleration toward the $28 range becomes more probable. Traders are paying close attention to volume and price reaction for any sign that buying interest is intensifying.
On the other hand, if the $23 zone is not respected, $LINK can range back towards the next lower support between $22-21.5. Trades are closely watching this level for subsequent short-term corrections.
Adoption and Ecosystem Developments
Recent collaborations reinforce Chainlink’s growth prospects. Cuterozel reported that the U.S. Department of Commerce is integrating Chainlink $LINK to provide official macroeconomic data on-chain, which triggered positive price movement.
ThalaLabs also upgraded to the Chainlink standard on Aptos. Chainlink Price Feeds now power ThalaSwap V2, delivering secure pricing for Metastable pools, BTCFi assets, and xLPTs. This upgrade strengthens price integrity across the Aptos ecosystem.
LINK was trading at $23.71 as of this writing with a 24-hour volume of $661,616,153, reflecting a 1.03% gain. The combination of market structure, backtest confirmation, and adoption news suggests a possible bullish trajectory toward the $28 target.
