Chainlink Eyes $27 as Grayscale Adds Another $1.53M in Link

Chainlink has made its first retest of an ascending trendline since June, and it did so with an aggressive move rather than a slow grind. This kind of retest indicates that the underlying trend has strength behind it.

The next levels to watch are swing high levels at $14.992, followed by $20.757, and then $27.882 further out. If LINK pulls back before continuing, the recent swing high around $10.862 becomes a key level to hold as support.

Grayscale's GLNK ETF has added another $1.53M in LINK, with daily ETF inflows being positive and rising for over a week straight. Short-side liquidations are heavily outweighing long-side liquidations at every timeframe.