Chainlink (LINK) Among Top Gainers With 11% Daily Surge, Is A Rebound To $24 Coming?

After losing a key support level earlier this week, Chainlink (LINK) has surged 24% from the recent lows to lead Fridays crypto market. Some analysts suggested that a rebound could be around the corner as whales continue to bet on the cryptocurrency. Related Reading: Bitcoin Faces Rejection At $84,000, But Analysts Show 2020 Similarities Recovery Ahead? Chainlink Recovers Critical Support On Friday, Chainlink surged over 10% to turn the $14 resistance into support again. The cryptocurrency lost this crucial level on Monday following the recent crypto market crash, which saw Bitcoin (BTC) fall to its lowest price in months. During the correction, LINK dropped to a four-month low at $11.71, retesting its post-election breakout levels for the first time since late November. Over the past three days, the token hovered between the $12.5-$13.5 price zone, failing to break above the ranges upper boundary and retest the $14 mark until today. Its worth noting that this level has been a critical support during LINKs past rallies, serving as a key breakout and bounce point in the previous cycle, Q1 2024s high, and the post-US election pump. Moreover, whenever this level has been lost, it has led to long accumulation periods for the cryptocurrency. After todays surge, LINK has reached a high of $14.71 before retracing to the $14.4-$14.5 price range over the past few hours. Crypto analyst Ali Martinez noted that holding its current level could set the stage for a rebound to $24. As Martinez has pointed out, Chainlink has been in an ascending parallel channel since July 2023, moving between the patterns upper and lower boundary over the last year and a half.  LINK surged to the channels upper trendline every time it retested the lower zone before dropping back, repeating the cycle. Based on this, the recent recovery of the parallel channels lower range could send the cryptocurrency to the mid-zone of the pattern before a climb to the upper boundary.  A Spike in buying pressure at the current levels can help Chainlink rebound to the upper boundary at $45, the analyst explained. Is LINK Poised For A Reversal? Notably, whales had bought over 3 million LINK in five days, Martinez pointed out on Tuesday, and online reports revealed that an address has continued to purchase Chainlink during the rest of the week. Lookonchain recently reported that a large-scale address has spent 12.1 million USDC to buy 863,174 LINK at $14, holding a total of 1.07 million tokens, valued at $15.53 million. Additionally, the address has a long position on LINK, worth $31 million. Analyst AMCrypto Alex pointed out that LINK remained in its long-term uptrend channel despite Tuesdays low. However, he considers there is a high chance that the token will retest the $10 mark before the bottom formation. Related Reading: Solana (SOL) Retests Crucial Support Level Is A 50% Price Drop On The Horizon? Meanwhile, trader Crypto Rand suggested that Chainlink is ready to bounce as LINK marines are getting ready for the bull reversal. The market watcher pointed out the cryptocurrency has been forming a falling wedge pattern since the start of 2025, and the $14 support recovery is pushing for the breakout. A breakout from the patterns upper trendline, which is around the $14.5 mark, could propel the tokens price to a 30% surge near the $20 barrier. As of this writing, LINK is trading at $14.51, an 11.6% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Chainlink Whale Sells 356,665 LINK for $4.59M Amid Market Surge

A major Chainlink investor has taken advantage of the latest price surge by selling many tokens for profit. Onchain data revealed that the whale offloaded 356,665 LINK, generating $4.59 million in USDC at an average price of $12.88. The investor made a strategic investment decision because market factors and price increases occurred at this time. […]

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Chainlink Breeds New Whales As $49.9 Million Accumulation Spree Cause Prices To Surge

Chainlink (LINK) has traders buzzing as its price has been up by 40% since the last week of January, massively outpacing the broader cryptocurrency market. Amidst this price spike, mysterious whale wallets have been topping up their holdings, as evidenced by on-chain data.  According to blockchain tracker Lookonchain, there’s been a massive outflow of LINK from crypto exchange Binance in the past two days, particularly with 49 new wallets receiving 2,745,815 LINK within this timeframe.  Massive LINK Accumulation Occurs On Binance Before Withdrawal Details from Binance point to an ongoing accumulation of LINK from the crypto exchange. In the middle of this accumulation, a particular whale or institution has been going on a buying spree, gobbling up more than 2.7 million LINK tokens worth $49.9 million. This accumulation came days after the Lookonchain noticed that four new wallets had withdrawn over 119,583 LINK tokens worth over $2.15 million from Binance. Related Reading: Bitcoin Miner Reserves Drop To June 2021 Levels, What This Means For Price Whales/institutions continue to accumulate $LINK! This mysterious whale/institution withdrew 2,745,815 $LINK($49.9M) from #Binance via 49 new wallets. Whale”0x2A19″ withdrew 494,957 $LINK($9M) from #Binance in the past 10 days.https://t.co/QoP2waErBShttps://t.co/iaPHa9f0XB pic.twitter.com/GUW1S33NHf Lookonchain (@lookonchain) February 7, 2024 Similarly, Lookonchain noted that another whale address “0x2A19” has withdrawn 494,957 LINK tokens worth $9 million from Binance in the past 10 days. Notably, whale transaction tracker Whale Alerts has also noted some accumulation of LINK tokens from other crypto exchanges. 800,000 #LINK (14,701,915 USD) transferred from #Bybit to unknown wallethttps://t.co/RQEu3CxLVM Whale Alert (@whale_alert) February 7, 2024 Analytics platform Santiment also noted that LINK whale addresses have upped their activity amidst the price surge as large amounts of coins were moved by previously stagnant wallets. This influx of tokens back into the network’s circulation, coupled with a minor liquidation of wallets, seems to have contributed to the price spike. #Chainlink has jumped ahead of the #altcoin pack after some previously dormant wallets created the highest Age Consumed spike (5.38B, calculated by multiplying coins moved by the amount of days those coins had been dormant). This influx of $LINK back into the (Cont) pic.twitter.com/eHVpeJz2HW Santiment (@santimentfeed) February 1, 2024 How Will New Chainlink Whales Impact Price Action Going Forward? The crypto industry is currently going through a modest price gain led by Bitcoin recently breaking above the $44,000 level again. As a result, the industry is now up by 3.25% in the past 24 hours, with a 22.60% increase in trading volume.  LINK hasn’t been left out of this price gain, registering a 4.30% gain in the past 24 hours. However, LINK has been on a sustained breakout since January, reaching as high as $19.68 on February 5.  Related Reading: Cardano Activity Sees New Life That Could Send ADA Price Soaring, Here Are The Targets The price spike isn’t particularly surprising, as fundamentals of the Chainlink ecosystem point to a steady price growth for LINK. Chainlink’s role in DeFi and NFTs with its smart contracts oracles cannot be overstated. Chainlink also recently released its Staking v0.2 protocol in December, allowing investors to stake a minimum of 1 LINK for a base floor reward rate of 4.5% per year in LINK. Consequently, the massive accumulation of LINK by whales is a very bullish signal for the token’s price action going forward. These large investors see LINK’s long-term value and potential and are loading up their bags in anticipation of higher prices. LINK price trading high at $18.7 | Source: LINKUSD on Tradingview.com Featured image from CoinMarketCap, chart from Tradingview.com

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Chainlink (LINK) Whale Transfers Spike, Bearish Sign?

On-chain data shows that Chainlink (LINK) whales have become quite active in recent days, a sign that may be bearish for the asset’s price. Chainlink Whale Transactions Have Shot Up In Number Recently According to data from the on-chain analytics firm Santiment, whale transactions hit a 2023 high just as the price dipped toward the $5 mark. The “whale transaction count” is an indicator that keeps track of the number of Chainlink transfers taking place on the blockchain that involve the movement of tokens worth at least $1 million in value. When the value of this metric is high, it means that there are a large number of sizeable LINK transactions occurring on the network right now. Generally, transfers worth more than $1 million are thought to be coming from the whales, so this kind of trend can be a sign that the whales are active currently. On the other hand, the low values of the indicator imply the whales aren’t making that many moves at the moment. As whale transactions are quite large in scale, a lot of them happening at once can cause fluctuations in the market. Thus, a lack of them happening (that is, low values) can result in a more stable market. Now, here is a chart that shows the trend in the Chainlink whale transaction counts over the last few months: The value of the metric seems to have been quite high in recent days | Source: Santiment on Twitter As displayed in the above graph, the Chainlink whale transaction count saw a couple of spikes during the last week or so. This would hint that whales of the cryptocurrency may have been actively trading in this period. These high values of the indicator took place simultaneously with the asset’s price sliding down and hitting a three-year low of around $5, implying that at least some of the transactions may have been made for selling-related purposes. Related Reading: Bitcoin Stuck In Historically Tight Range, Calm Before The Storm? Interestingly, the whale activity continued to remain elevated even after the coin hit its $5 local bottom and saw a rebound. In fact, the largest of the metric’s spikes, which set a new high for the year 2023, came just as Chainlink bottomed out. The timing of this extreme elevation in the whale transactions may be a sign that some of these humongous investors saw the dip as a profitable buying opportunity and participated in some accumulation, leading to the price being able to rebound. In the chart, Santiment has also displayed the trend in the supplies of the investor groups holding between 1,000-10,000 LINK and 10,000-100,000 LINK. Both these cohorts seem to have done some buying recently as their supplies have shot up, implying that market-wide buying may have taken place at the lows. Related Reading: Bitcoin Bearish Signal: Miners Sell At 3rd Largest Scale Ever Since the bottom, however, Chainlink has only seen a minute increase as it’s still trading quite near the low itself. Whale transactions are also still at higher-than-average levels for the year, and it’s hard to say what behavior these investors may be showing this time. Naturally, if the whales are still selling, then LINK might see further bearish price action in the near future. LINK Price At the time of writing, LINK is trading around $5.2, down 15% in the last week. Looks like the value of the asset has plunged | Source: LINKUSD on TradingView Featured image from Thomas Lipke on Unsplash.com, charts from TradingView.com, Santiment.net

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Chainlink Whales Accumulate $77 Million LINK Amid Price Correction  Details

Amid a general market retracement, prominent altcoin Chainlink has recorded a 29.89% price decline from its local market top at $30.31. LINK currently hovers around $21 having failed to move past $26 despite recent uptrends. During this price fall, LINK whales have adopted an accumulation approach signaling confidence in the altcoins long-term profitability. Related Reading: Chainlink Price Could Crash 30% To $15 Heres How Chainlink Whales Acquire 3.58 Million LINK In 3 Days Following a strong bullish performance in early December, the crypto market has undergone a significant correction in the past two weeks attributed to several factors including a flash crash price and potential reductions of Fed rate cuts in 2025.  As this corrective market persists, blockchain analytics company Santiment has reported an accumulation spree by LINK whales holding between 1 million-10 million LINK. In an X post on December 28, Santiment states that these large LINK holders have purchased 3.58 million LINK valued at $76.9 million over the past three days. Generally, significant levels of whale accumulation are indicated as bullish signals as these large token holders are confident of future gains. In the case of a price decline such as this, these massive accumulation levels reflect the belief that LINK is currently undervalued with a potential market rebound on the horizon. Related Reading: Chainlink And AAVE Surge After Trumps Crypto Project Invests In Both Key Resistance Levels For LINK While high levels of whale accumulation are one sign of an impending price rally, analysis platform More Crypto Online has shared another positive insight on the LINK market. According to a recent X post,  these market analysts state Chainlink still maintains an uptrend on larger time frames despites recent correction with its major support level set at $17.65. Based on the Elliott Wave Theory, If the LINKs price holds above this level, the altcoin is predicted to rise to $69 in line with the expected third wave of the current market cycle.  However, for confirmation of a price uptrend, Chainlink must break through resistance levels at $25.10 and $28.30. A decisive five-wave move above these levels would solidify the bullish case and suggest further price appreciation. In Elliott Wave theory, the five-wave structure is a reliable pattern indicating a strong trend continuation, making the breakthrough of these resistance levels pivotal for the ongoing rally. At the time of writing, Chainlink trades at $21.90 reflecting a 1.44% gain in the past 24 hours. However, the asset’s daily trading volume is down by 12.55% and valued at $726.44 million. With a market cap of $13.96 billion, LINK is ranked as the 13th largest cryptocurrency. Featured image from CoinMarketCap, chart from Tradiingview.com

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Chainlink Hits $13.5 For The First Time Since July Smart Money Accumulation?

Chainlink (LINK) has surged impressively over the past few days, breaking above the critical $13 resistance level and posting a remarkable 35% gain. This recent breakout has ignited optimism among analysts and investors, as LINK has faced strong resistance around the $13 mark since late July, struggling to sustain any upward momentum. Now, however, market sentiment appears to be shifting, with many anticipating further upside for Chainlink. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? Supporting this bullish outlook, key data from on-chain analytics firm Santiment reveals that LINK whale activity has reached a 3-month high, with large holders accumulating LINK in significant quantities. This increased whale activity is often an indicator of confidence among major investors, suggesting that Chainlink’s latest surge could be just the beginning of a more sustained rally. As LINK breaks free from its months-long resistance and gains renewed momentum, the next few days will be crucial in determining whether this rally has the strength to reach higher price levels or if it will encounter fresh resistance. For now, however, Chainlinks impressive performance has analysts speculating on its potential to maintain bullish momentum in the coming weeks. Chainlink Whales Waking Up Chainlink is showing signs of renewed strength, with the price surging above key resistance levels that have held the coin back for months. For the first time since July, LINK has broken past $13.65, marking a significant shift in its price action. This breakout has come at a time when critical data points are signaling a bullish outlook for the asset. According to Santiment, Chainlink has decoupled from the broader altcoin market, showing a unique price performance amidst a recovering market. One of the most compelling indicators is the spike in whale activity, which has reached a 3-month high. Stakeholders holding between 100K to 10M LINK have accumulated a massive $369.8 million worth of the token in just 7 weeks, representing an 8.2% increase in their holdings.  This surge in whale activity often signals confidence in a tokens future price potential, with large investors positioning themselves for the next leg of growth. Related Reading: Bitcoin ETFs See Historic Surge Institutions Go Bullish On BTC With $1.38 Billion Record Inflows Accumulation by Chainlink whales, combined with its price-breaking key resistance levels, suggests that LINK is poised for continued growth in the coming weeks. As the entire market begins to recover and rise again, Chainlinks decoupling from the pack could indicate that its positioning itself to lead the charge in the altcoin space. Investors are watching closely, as the recent price surge and whale behavior suggest LINK could experience sustained bullish momentum. LINK Testing New Supply Chainlink is currently trading at $13.5 after successfully breaking above the 200-day moving average (MA) at $12.9, a key level that signals a strong, bullish outlook for the long term. This breakout has given bulls control, reinforcing positive sentiment around LINKs price action. For the uptrend to continue, its crucial that LINK holds the 200-day MA as support, as this level often marks a turning point between the bear and bull phases. While LINK shows strength above $13, a healthy retrace to around $12.5 could provide the fuel needed for further upside if that level holds as support. A pullback of this nature would allow bulls to consolidate gains and set a stronger foundation for the next move.  Related Reading: Solana Breaks Above Key Resistance Top Analyst Sets $300 Target Traders are eyeing $14.5 as the next significant supply zone, where LINK may face resistance as it approaches this level. If LINK manages to push above $14.5, it would signal robust demand and potentially open the door to even higher levels in the coming weeks, as whale activity and overall market sentiment support further gains. Featured image from Dall-E, chart from TradingView

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Chainlink Whales Waking Up Data Shows Signs Of Accumulation

Chainlink (LINK) has seen a whirlwind of price activity, surging 50% before experiencing a sharp 15% retracement within 10 days. This volatility showcases the potential and unpredictability surrounding LINKs recent price action, drawing attention from analysts and investors alike.  According to crypto analyst Ali Martinez, theres a notable trend unfolding beneath the surface: Chainlink whales [...]

The post Chainlink Whales Waking Up Data Shows Signs Of Accumulation appeared first on Crypto Breaking News.

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Chainlink (LINK) Eyes New ATH: $4.7M Investment and Cross-Chain Upgrade Propel 24% Rally

Chainlink (LINK) has been on a strong bullish trajectory, registering a 24% gain over the past week. This impressive rally highlights growing investor confidence in the asset, fueled by significant technical advancements and institutional interest. However, despite its upward momentum, LINK is experiencing short-term volatility due to broader market fluctuations, particularly Bitcoins recent retracement. Chainlink […]

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