Chainlink (LINK) is showing signs of a potential rebound as technical indicators and market dynamics align. The LINK token, currently trading at $13.25, has been in a tight range but may see upward movement as exchange reserves decline and ETF inflows increase. The token's price has retreated from its high of $27.72 last year, but the formation of an Elliot Wave pattern suggests a bullish phase is imminent. The supply of LINK tokens on exchanges has decreased significantly, dropping from a high of 158 million to 122 million, indicating a shift towards self-custody by investors. Additionally, LINK ETFs have seen substantial inflows, with the Grayscale Chainlink ETF adding over $464,000 recently, bringing its net assets to $83 million. The approval of the Bitwise LINK ETF by the SEC is expected to further boost investor interest. Chainlink's strategic partnerships in both decentralized finance (DeFi) and traditional finance (TradFi) sectors, along with its growing total value secured (TVS) of over $50 billion, position it well for future growth. Founder Sergey Nazarov highlights Chainlink's role at the intersection of DeFi and TradFi, which could drive further adoption and price appreciation.