Price Analysis

Chainlink Price Prediction As Whales’ Buying Spree Signals $30 Target in Sight

Chainlink Price Prediction: The uptick in whale accumulation coinciding with the rise in price suggests that the LINK price has the potential for further upward movement.
Published by
Chainlink Price Prediction As Whales’ Buying Spree Signals $30 Target in Sight

Chainlink Price Prediction: Outperforming the broader market consolidation, Chainlink (LINK) has emerged as a standout performer among the leading cryptocurrencies. The coin price soared from $13.67 to $19.7 in just two weeks, marking a 44% increase. This surge has successfully pierced a key resistance level of a long-coming chart pattern, suggesting that the coin’s recovery may be in its initial stages.

Also Read: Chainlink (LINK) Price Shoots 17% Dominating Altcoin Rally, Next Target $25

Advertisement

LINK Price Escapes a 22-Month Accumulation

  • The cup and handle pattern leads the current recovery trend in the LINK price
  • The high momentum rally in Chainlink price may witness occasional pullback to 20-day EMA
  • The intraday trading volume in the LINK coin is $1,09 Billion, indicating a 95.96% gain.
Chainlink Price Prediction| TradingView Chart

Over the last quarter, the Chainlink price has been locked in a lateral movement, finding it challenging to maintain a foothold above the pivotal $17.5 resistance level. Initially, this sideways trend cast a shadow of doubt among investors, but a broader examination of the long-term chart reveals the emergence of a cup and handle formation. 

During the evolution of this pattern, the ongoing consolidation phase is typically recognized as a period that rejuvenates the previously waning bullish momentum, leading up to a significant bullish thrust. 

On February 2nd, the asset’s value surged past the neckline resistance of the pattern at $17.5, hinting at the commencement of a trend reversal. The 8% surge in the day’s value that followed acts as a confirmation of buyers’ stance and setting the stage for an extended recovery.

Advertisement

Over $2 Million in $LINK Withdrawn in a Strategic Shift

According to Lookonchain, a respected on-chain data tracker, there’s been a significant movement of $LINK tokens. Specifically, within the span of just one hour, four new wallets have moved a staggering total of 119,583 $LINK, valued at approximately $2.15 million, away from the Binance exchange. 

This activity could signal a bullish sentiment among large-scale investors towards Chainlink, suggesting they see potential value in accumulating $LINK at current levels.

Thus, under the influence of the bullish chart pattern and whale accumulation, the LINK price can chase potential targets of $24.28, followed by $30.7.

  • Experimental Moving Average: An uptick in the daily EMAs(20, 50, 100, and 200) indicates the aggressive buying trend in the market.
  • ADX: The rising ADX slope at 21% indicates that there is potential for the bullish trend to continue and gain strength.

Related Articles:

    • 2 Best Altcoins To Buy Today: LINK And LUNC
    • LINK Price: Top Reasons Behind Chainlink Price Impressive Rally?

 

Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025
  • Price Analysis

ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?

At press time, ONDO trades at $0.9083, marking a 5.2% drop in the past day.…

September 5, 2025