Chainlink Whales Move $14M as LINK Eyes $20 Breakout

Sean Williams
Chainlink (LINK)

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  • Whales withdrew $9M in LINK, raising holdings to $14M total.
  • Open Interest jumped 7.7%, showing growing bullish participation.
  • LINK trades near $19.9—breakout above could target $23–$28.

Chainlink (LINK) is showing renewed signs of strength as on-chain and derivatives data align to support a potential breakout. A newly created wallet recently withdrew 490,188 LINK worth nearly $9 million from Binance, boosting its total holdings to 771,095 LINK valued at around $14 million.


These steady withdrawals signal rising investor confidence, with large holders moving assets off exchanges—often a sign of reduced sell pressure and long-term bullish positioning. Historically, such whale activity has preceded major LINK rallies.

Bullish Pennant Forms as LINK Tests $20

LINK has been consolidating in a bullish pennant pattern, hovering around $18.85 and testing upper resistance at $19.91. A breakout above this level could trigger a rally toward $23.77 and potentially $28.06, based on prior technical projections.


Momentum indicators, including the RSI near 48, suggest there’s still room for further upside if buying pressure increases. However, maintaining support at $16.51 remains crucial for the bullish setup to stay intact.

Chainlink price action
Source: TradingView

Futures and Open Interest Data Reinforce Bullish Momentum

Market sentiment appears to be turning decisively positive. According to CryptoQuant, Futures Taker CVD data shows strong buy-side dominance, meaning traders are executing market buys aggressively instead of waiting for dips.

Also Read: Chainlink Whales Withdraw $188M as Analysts Eye $35 LINK Breakout


At the same time, Open Interest surged 7.7% to $695 million, reflecting a wave of speculative participation and growing confidence among traders. When rising OI coincides with whale accumulation, it typically signals that institutional and retail players are aligning on a potential move higher.

LINK Nears a Decisive Turning Point

Source: CoinGlass

All key indicators—whale activity, technical structure, and futures participation—point to an imminent move. If bulls can clear $19.91 with solid volume, a continuation toward $23 and beyond becomes likely.
Chainlink now stands on the verge of a potential breakout, with investors watching closely to see if buyers can reclaim control and confirm a sustained recovery.

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.

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