Chainlink Price Breakout Imminent as Whales Accumulate and Demand Zone Holds

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• LINK forms double bottom and bullish pennant signaling possible rally.
  
• Whales accumulated 800,000+ LINK, indicating confidence at lower levels.
  
• Reduced supply from exchanges supports upside potential toward $27–$30.

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Chainlink (LINK) is showing signs of a potential rally as technical charts and whale activity highlight growing bullish momentum. With the price consolidating in a critical demand zone, analysts see conditions forming for a possible breakout in the near term.

Double Bottom and Bullish Pennant Signal Upside Potential

LINK currently trades around $21.81 after forming a double bottom pattern earlier this month. The first bottom appeared on September 2 near $21, followed by a second on September 6, setting the stage for a rebound. After this retest, LINK surged 17% toward $25.6 before facing minor resistance.

Chart patterns also reveal a bullish pennant, a continuation structure suggesting further gains if LINK breaks above $25.20. A confirmed breakout could target $27.86, with the potential to climb toward $30 if momentum sustains. Maintaining the demand zone is crucial to avoid renewed downside pressure.

Whale Accumulation and Reduced Supply Strengthen Outlook

Large investors, or whales, have purchased over 800,000 LINK during the recent dip, indicating confidence at lower levels. Netflow data shows $14.45M leaving exchanges on September 24, reducing the supply available for immediate selling.

Also Read: Chainlink (LINK) Could Hit $50 in 2025 — $195 by 2030: Here’s the Path

This combination of strong accumulation and limited selling pressure supports the bullish case. When larger holders strategically enter positions during dips, it often precedes significant recoveries, aligning perfectly with LINK’s technical support levels.

LINK Price Outlook Remains Optimistic

Chainlink price action reflects resilience, reinforced by technical patterns and strong whale participation. Reduced supply from exchange outflows further strengthens optimism, suggesting that a breakout cycle could be on the horizon. For traders and long-term holders, defending the demand zone while watching key resistance levels is critical for maximizing potential gains.

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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.