Chainlink Price Prediction as Whales Buy 800K LINK — Can the Demand Zone Launch a Recovery?
Highlights
- Chainlink price trades at $21.81, consolidating within demand zone after multiple retests.
- LINK price outlook strengthened by bullish pennant flag and whale accumulation signals.
- Negative netflows highlight reduced exchange supply, reinforcing long-term confidence.
Chainlink price sits at a critical level as charts highlight a bullish setup within the demand zone. The pattern points to potential rebounds if support holds firm. Meanwhile, whale accumulation during the recent dip suggests growing confidence in LINK price. Together, these factors highlight conditions for a possible breakout.
Bullish Pennant and Demand Zone Signal Possible LINK Price Rally
The current LINK market price trades at $21.81 after consolidating within the demand zone. A double bottom structure has emerged, with the first bottom formed on September 2 near $21 and the second confirmed on September 6.
After this retest, LINK price staged a 17% rally toward $25.6 before pulling back again. Specifically, the chart highlights a bullish pennant flag, a continuation structure that strengthens the rebound case.
Notably, a break above resistance at $25.20 could unlock a 28% rally toward $27.86. Meanwhile, defending the demand zone remains vital to prevent downside pressure from resurfacing.
Importantly, a confirmed extension beyond $27.86 would validate the pennant projection, with room toward $30. Therefore, the long-term Chainlink price prediction maintains an optimistic bias as patterns reinforce buyer strength.
Chainlink Confidence Builds as Whales Accumulate and Supply Declines
Whales added over 800,000 LINK during the recent dip, signaling confidence at lower levels, according to Ali Charts on X platform. This accumulation reflects renewed interest in long-term positioning within the demand zone. Such activity often precedes price recoveries as larger holders seek strategic entries.
Netflow data also supports this narrative, with outflows showing $14.45M on September 24, according to CoinGlass. Consistent negative netflows indicate coins leaving exchanges, reducing available supply for immediate selling.
Meanwhile, fewer inflows highlight that selling pressure remains limited despite short-term volatility. Together, these metrics suggest strong accumulation aligning with technical support levels.
Ultimately, Chainlink price shows signs of resilience after repeated defense of its demand zone. LINK price benefits from both technical setups and strong whale participation. Netflows further reinforce optimism by signaling reduced supply pressure. Therefore, conditions align in support of a breakout cycle ahead.
Frequently Asked Questions (FAQs)
1. What chart pattern is forming on Chainlink?
2. How are whales influencing Chainlink’s market structure?
3. What does negative netflow indicate for LINK?
- Expert Says A Pi Network Stablecoin PiUSD Could Be A Game-Changer for the Ecosystem
- Dogecoin Gets Major Utility Boost as Trump-Linked Thumzup Prepares DOGE Payments
- Just-In: Binance Officially Re-Enters South Korea Market with Gopax Acquisition
- Coinbase To List Binance Coin (BNB) Amid ‘Listing Fee’ Saga
- Fed’s Stephen Miran Calls for Rapid Rate Cuts Amid U.S.-China Trade Tensions
- Pi Coin Price Gears for Recovery as DEX and AMM Launch Revives Utility Hopes
- Cardano Price Teeters as Whales Exit and Bearish Signal Emerges
- Sui Price Targets $9.5 as Figure Brings SEC-Approved Yield Token YLDS to Sui
- Chainlink Price Eyes $100 as S&P Global Partnership Expands Institutional Adoption
- Solana Price Prediction as Whales Withdraw $169M from Exchanges
- Pro Says Ethereum Price is a Buy Despite Rising Liquidations and BlackRock Selling
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
