Chainlink (LINK) Price: Whale Activity Hints at $30 Target
Key Takeaways
- Whales accumulated 1.29M LINK (worth $31M) in just four days.
- LINK retested the $24 mark, signaling resilience.
- Increased wallet growth and social media buzz suggest momentum toward a $30 breakout.
Whale Accumulation Fuels Optimism
Since mid-August, Chainlink (LINK) has witnessed significant whale activity, with one address acquiring over 1.29 million LINK, valued at $31.15 million, from Binance. This activity indicates strong confidence among large-scale holders.
At the time of writing, LINK traded near $24 after briefly hitting $26. Such accumulation reduces available supply, potentially tightening liquidity and driving prices higher. However, sudden large sales could trigger corrections.
Technical Analysis: $25 Resistance in Focus
Chainlink recently broke a long-term descending trendline, peaking at $26 before retracing to $24.29. Fibonacci retracement levels show key support at $22.77 and $21.20, with a potential target of $30.54. The Relative Strength Index (RSI) near 63 suggests strong, but not overbought, momentum.
The near-term price action will determine if LINK consolidates or pushes higher. A decisive move above $24.77 could trigger renewed bullish momentum toward $30.
Network Growth Validates Bullish Sentiment
On-chain data reveals explosive growth in Chainlink's network, with 9,813 active addresses and 9,625 new wallets created within two days. These figures represent 2025 highs, indicating increased retail engagement.
Such activity often aligns with capital inflows as more users transact and accumulate tokens. This rapid adoption supports the recent price rally. However, a slowdown in user activity could make LINK vulnerable to corrections.
Social Dominance and Market Hype
Chainlink’s social dominance has climbed to 1.43%, reflecting increased attention across crypto communities. While this can drive speculative inflows and volatility, it also attracts risk if hype exceeds actual adoption.
The combination of social engagement and whale accumulation strengthens the case for sustained interest. Investors should monitor the balance between hype and utility as LINK approaches crucial resistance levels.
Profit-Taking vs. Accumulation
The MVRV Long/Short difference for LINK surged to 12.77%, indicating significant unrealized gains for many holders. Historically, high profitability leads to profit-taking pressure. However, sustained whale accumulation may offset this by absorbing selling supply.
Whether LINK reaches $30 or stalls depends on the balance between profit-taking and accumulation trends.
Conclusion: $30 Within Reach?
Chainlink appears positioned to reclaim $30, fueled by whale accumulation and network activity. Social engagement adds momentum, and Fibonacci levels point to $30.54 as the next target.
Despite rising MVRV levels suggesting profit-taking, whales have aggressively absorbed supply, reducing selling pressure. This suggests LINK may break higher, with the $30 level attainable in the short term.