- Chainlink (LINK) has surged nearly 20% this week, with a price of $13.48 and a market cap of $8.45 billion.
- Whale activity has reached a three-month high, with large holders accumulating $369.8 million worth of LINK.
- Technical analysis suggests a potential breakout, targeting $30 in the coming weeks.
Chainlink (LINK) has been gaining significant traction in the cryptocurrency market, exhibiting a strong upward trajectory that could lead to a major price breakout in the near future. Over the past week, LINK has surged nearly 20%, signaling robust investor interest and a potential for continued growth.
As of today, the price of Chainlink stands at $13.48, with a 24-hour trading volume of $1.05 billion and a market capitalization of $8.45 billion. Notably, the coin has experienced a 4.87% price increase in the last 24 hours, further affirming its positive momentum.
Strong Whale Activity and Decoupling from Altcoin Market
According to data from Santiment, Chainlink has decoupled from the altcoin pack, breaching the $13.65 mark for the first time since July. This price movement is significant, as it indicates that LINK is not only defying broader market trends but also positioning itself as a leading asset in the space
Notably, whale activity has surged to a three-month high, with large holders—who possess between 100,000 to 10 million LINK—amassing approximately $369.8 million worth of LINK over the past seven weeks. This substantial accumulation represents an 8.2% boost in their holdings, reinforcing the potential for a significant rally.
Chainlink Technical Analysis Points to a $30 Target
Technical indicators reveal a bullish scenario unfolding for Chainlink. LINK has rebounded robustly from a crucial support zone, breaking a key horizontal resistance level in the process. This price action has analysts eyeing a possible breakout from a bullish flag pattern, with expectations that once this flag pattern clears, Chainlink could target the $30 range in the coming weeks.
Chainlink’s recent performance, coupled with strong technical indicators and whale accumulation, suggests that the cryptocurrency is gearing up for a major move. With $30 now a realistic target, LINK’s bullish momentum seems poised to continue, making it a coin to watch closely in the coming weeks.
Related | Crypto-Friendly SEC? Dan Gallagher Tops List for Trump’s New Financial Regime
