|
Getting your Trinity Audio player ready...
|
- Whales accumulated over 1.29M LINK, reducing exchange supply.
- Network activity hit 2025 highs with nearly 10k active wallets.
- LINK must close above $24.77 to target $30.
Chainlink (LINK) has entered a critical phase as whale accumulation, record wallet growth, and surging social engagement point toward a potential breakout. Despite short-term volatility, the token remains resilient above $24, with technicals suggesting $30 as the next key target.
Whales Absorb Supply, Pushing LINK Higher
Since mid-August, whales have aggressively accumulated LINK, with one address alone withdrawing over 1.29 million tokens (worth $31.15 million) from Binance. This steady absorption of supply reduces exchange liquidity, creating conditions for upward momentum.
However, if these whales unload positions suddenly, LINK could face sharp corrections. For now, their buying spree continues to provide strong support near the $24–$25 zone.
Technical Outlook: Can LINK Break $25 Resistance?
Chainlink recently broke a long-term descending trendline, briefly reaching $26 before retracing. Current Fibonacci levels place support at $22.77 and $21.20, while the next key target sits at $30.54.
With the Relative Strength Index (RSI) at 63, LINK shows healthy momentum without being overheated. A decisive close above $24.77 may ignite the next bullish leg toward $30.
Network Growth and Social Buzz Reinforce Momentum
On-chain data highlights LINK’s strongest network activity in 2025, with nearly 10,000 active addresses and over 9,600 new wallets created in two days. This surge signals rising retail adoption and strengthens the bullish outlook.
At the same time, Chainlink’s social dominance climbed to 1.43%, reflecting growing hype in crypto circles. While increased visibility often fuels speculation, it also amplifies demand and liquidity.
LINK’s MVRV Long/Short ratio has surged to 12.77%, showing holders are sitting on sizeable unrealized gains. Historically, this leads to profit-taking. Yet, continued whale accumulation could absorb sell pressure, keeping LINK positioned for a breakout.
Chainlink’s combination of whale accumulation, record user activity, and technical strength suggests $30 is within reach. While profit-taking risk remains, sustained network growth and whale demand may tilt the balance in favor of further gains.
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
Also Read: Chainlink Breaks $26 as Wallet Activity Hits Yearly High
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!
