Chainlink posted a 15% two-day rally, breaking above the $10.69 resistance as recurring protocol buybacks and Bitwise ETF purchases supported demand. The protocol purchased 103,041 LINK for approximately $1.09 million during the week, while Bitwise acquired over 127,000 LINK worth roughly $1.36 million through Wintermute. However, net exchange inflows reached $4.83 million on August 21, surpassing the weekly buyback amount and adding selling pressure. The price reached approximately $10.91 with RSI at 82.87 signaling overbought territory, though MACD confirms a bullish structure with $12.00 as the next major resistance target.
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