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A fierce battle is unfolding in the Chainlink (LINK) market, with bulls pushing for higher prices while bears fight for control. Traders are closely watching for a decisive move, as whales continue accumulating LINK tokens, hinting at a possible breakout. However, the next few weeks are critical, with support levels being tested and the overall market volatility playing a key role.
$Link could soon see $50+ ⚠️
— The Penguin (@KayneStanway) March 30, 2025
– $Link has completed its potential 1 of its 3rd wave prepping up for a monster rally with minimum targets of
50+
– Only invalidation – White line of doom
– Pull backs are for longs pic.twitter.com/59CnSPjFXj
After a sharp 9.1% drop in 24 hours, triggered by a broader altcoin selloff, Chainlink’s price fell near $14, despite a 35% surge from a monthly low to an 18-day high of $16. Analysts are watching the $12–$13 zone closely, as a breakdown below this support level could lead to further losses. Conversely, holding above the lower trendline could spark a rebound toward resistance levels around $19–$20.
Whale activity remains a crucial factor in the current market. On-chain data reveals that 67% of LINK holders are classified as whales, with 54% of them still in profit despite the recent price swings. Furthermore, over $4 million worth of LINK tokens left exchanges last week, a signal that fewer tokens are available for trading, potentially leading to stronger price action.
Chainlink’s correlation with Bitcoin remains high, with a coefficient of 0.92. A sharp decline in Bitcoin’s price could drag LINK lower, but if Bitcoin stabilizes, LINK could push past resistance levels. A monthly close above $14–$15.5 would confirm bullish momentum, paving the way for a move toward $19 and possibly even $30.
Looking ahead, analysts project long-term growth for Chainlink, with $30 seen as a realistic target for 2025. Some even forecast a potential surge to $259 by 2030, driven by increased adoption in decentralized finance (DeFi) and real-world asset (RWA) tokenization.
Also Read: Chainlink (LINK) Price Plunges 9%: Key Support Levels and Market Outlook
In conclusion, while the next few weeks will determine Chainlink’s future direction, the growing institutional interest and whale accumulation point toward a strong bullish outlook. Traders are preparing for the breakout or breakdown that could shape the next major move in the LINK market.
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 a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
