Recent days have seen increased whale activity in the Chainlink market. Analysts note an accumulation of over 1.4 million LINK tokens, potentially impacting future price growth.
Whale Activity and Its Impact on Chainlink Price
According to data from Ali charts, whales have accumulated over 1.4 million Chainlink (LINK) tokens in the last 96 hours. Historically, whale token accumulation often precedes price surges, indicating high confidence in LINK's potential. In December 2024, whales purchased $76.9 million worth of LINK, allowing analysts to predict a possible price increase to $81.83 by May 2025. Currently, LINK is trading at $23.5, reaching a high of $23.77 and a low of $22.90 in the past 24 hours.
Chainlink Price Technical Analysis: Consolidation Phase
Chainlink's price oscillates between $19.94 and $25.38 as it consolidates in the 4-hour chart. The MACD crossover, along with green histogram bars, confirms the buildup of bullish momentum. Should established support remain intact, LINK could break past resistance, aiming at $28-$30.
Chainlink Market Activity: Volume, Open Interest, and Sentiment Shift
Market interest in trading Chainlink is on the rise, evidenced by increased open interest and volume in derivatives. Recent volume dip of 18.9% contrasts with the rise in open interest, indicating continued bullish momentum and traders' expectations for price growth.
Whale activity, combined with positive technical indicators, suggests potential price growth for Chainlink. However, the dip in trade volume might indicate a wait-and-see approach from some traders, who are awaiting new market catalysts.
