Renowned crypto analyst Ali Martinez has identified a potential 'head and shoulders' pattern in Chainlink's (LINK) price movement, which could indicate a trend reversal and a possible bull run. Martinez shared a four-hour chart showing this formation, where a 'neckline' close at $15 might trigger a price increase to $19.

Chainlink's price recently dropped 16% from its weekly high to $12.6 during the market correction. However, as of press time, LINK was trading at $13.65, with a 24-hour trading volume of $203,437,634. Despite the recent downturn, whales have been actively buying the dip, acquiring over 6.2 million LINK coins in the past week.

The latest whale acquisition, estimated at around $76.88 million, is significant, especially given the broader market downturn. Over the past 30 days, LINK's price has plummeted by 17.17%, but this slump has led to increased activity from whales buying LINK tokens at lower prices.

This surge in whale activity suggests that large traders expect a price rebound for Chainlink soon. Martinez's analysis highlights the potential for a bullish reversal in LINK's price movement.

The crypto market's recent correction has led to increased activity from whales, who are strategically buying the dip in anticipation of a price rebound. Chainlink's 'head and shoulders' pattern and whale activity suggest a potential bull run, making it essential to monitor LINK's price movement closely.