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Key Takeaways:
- LINK price has surged 58% in a month, breaking key resistance levels.
- Whale transactions above $1M increased by over 1,400%, signaling bullish confidence.
- While the RSI shows overbought levels, the overall trend remains upward if support at $18 holds.
Chainlink [LINK] has successfully broken and retested a bullish price pattern, igniting a strong rally backed by intense whale accumulation. The token has surged by over 58% in the past month, rising from $12.33 to around $19.40, with technical indicators suggesting a further upside potential.
Whale Accumulation Drives LINK Price Rally
The latest data highlights a significant accumulation trend among large investors. According to a post shared on X (formerly Twitter), whales have scooped up more than 8 million LINK tokens in the past 30 days, signaling strong institutional confidence in the token’s trajectory.
Whales have bought over 8 million Chainlink $LINK in the past month! pic.twitter.com/9u29Kyx07p
— Ali (@ali_charts) July 19, 2025
On-chain analytics platform IntoTheBlock supports this bullish narrative, revealing that transactions valued between $1M and $10M have spiked by over 1,400%, while those ranging from $100K to $1M increased by 463%. This surge in high-value transfers strongly indicates that whales expect continued price appreciation.
LINK Breaks Key Resistance Amid Volume Surge
In tandem with the whale activity, Chainlink has broken through several critical resistance zones. The asset has successfully breached a descending trendline and horizontal resistance at $18, both of which previously acted as reversal points.
Technical analysts at AMBCrypto note that LINK has broken out of a bullish double-bottom formation, retested support, and now looks poised to rise toward the $23 level—a potential 20% increase—provided the bullish sentiment persists.
Accompanying this rally, trading volume has climbed by 6.5% in the past 24 hours, suggesting renewed interest from both retail and institutional participants.
Potential Risks: Overbought RSI and Exchange Inflows
Despite the strong momentum, LINK may face short-term headwinds. The Relative Strength Index (RSI) is currently at 82, placing the asset in overbought territory and raising the risk of a minor pullback or consolidation.
Also Read: Chainlink (LINK) Rallies Toward $28 Amid Bullish Momentum and Regulatory Tailwinds
Further, CoinGlass data shows $1.74 million worth of LINK has flowed into centralized exchanges in the last 24 hours. This influx could be a sign of upcoming profit-taking, which might slow or temporarily reverse the current upward trend.
Chainlink’s breakout, fueled by whale accumulation and technical validation, positions it strongly for continued growth. However, overbought conditions and exchange inflows signal caution in the short term. If LINK sustains momentum above $18, a push toward $23 remains a real possibility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
