- LINK has gained 6% in the past week and 28% in the last 30 days, showing strong upward momentum.
- Whales have added $165 million in LINK, signaling growing institutional interest.
- Technical indicators suggest a potential price surge toward $50 in the coming weeks.
Chainlink (LINK) is showing strong signs of potential for significant growth, with the cryptocurrency displaying impressive upward momentum over the past few weeks. In the last seven days alone, LINK has seen a nearly 6% increase, and over the past 30 days, it has surged by an impressive 28%. These developments highlight Chainlink’s ongoing bullish performance, which points toward the possibility of new price highs in the near future.
Currently priced at $15.01, LINK is experiencing notable market activity, with a 24-hour trading volume of $1.37 billion and a market capitalization of $9.41 billion. With a market dominance of 0.30%, Chainlink has seen a 4.67% price increase in just the last 24 hours.
Chainlink Whales Accumulate $165M in LINK Amid Price Surge
The most recent data from Santiment shows that Chainlink is now decoupling from the broader altcoin market, achieving a price level above $13.65 for the first time since July. This marks a key milestone for LINK, with the cryptocurrency showing a consistent positive trend despite broader market fluctuations.
Furthermore, whale activity has surged to a three-month high, signaling increased confidence among large investors. In fact, stakeholders holding between 100,000 and 10 million LINK have accumulated $369.8 million worth of the token over the past seven weeks, marking an 8.2% increase in their holdings.
According to crypto researcher Ali Martinez, Chainlink whales have amassed more than 15 million LINK over the last two months, valued at approximately $165 million. This accumulation points to growing institutional interest and could be a strong indicator that these whales are positioning for a larger price rally.
Chainlink Eyes Surge Toward $50
Looking at the technical side, Chainlink’s charts are pointing toward a potential breakout. The price has reversed its recent downtrend and formed a higher low, which suggests the formation of a bullish flag pattern. This breakout could lead to a massive recovery, with the first resistance level expected to be around $22-23. However, Chainlink could reach as high as $50 in the coming weeks, marking a significant upside potential.
Chainlink’s price movements and the recent uptick in whale activity indicate that LINK is on the cusp of a major bullish trend. With strong technical indicators and a growing number of large holders backing the token, the cryptocurrency is poised for a potential surge that could take it to new heights in the months ahead.
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