Key Takeaways:
Chainlink (LINK) is flashing bullish signals as on-chain data shows whale wallets accumulated 32.93 million tokens over the past 30 days. The move tightens available supply and positions the oracle network’s token for a potential push toward $15, according to technical analysis.
"Historically, when this specific tier accumulates aggressively, it tends to precede rather than react to price appreciation," analytics firm Santiment wrote in a recent report. Data from the firm shows wallets holding between 100,000 and 10 million LINK have increased their holdings by 7.7% in a month.
The accumulation brings the collective holdings of this key whale cohort to a new all-time high above 461 million LINK. This occurred while the token traded sideways, suggesting conviction from large holders. The buying pressure has reduced supply on exchanges, creating what Santiment describes as an early-stage supply squeeze that could be amplified if Bitcoin (BTC) maintains its current strength.
The on-chain accumulation aligns with a constructive chart setup. LINK recently broke and retested a multi-month descending trendline, with the $9.40 level now acting as strong support, according to volume profile data. The next significant resistance zones are near $15.08, the 0.382 Fibonacci retracement level, and $17.52, representing a potential 50% to 75% rally from current levels. A daily close below $9.40 would invalidate the bullish outlook.
The daily chart for LINK reinforces the bullish on-chain picture. After breaking its descending trendline from the August 2025 high, the price found firm support at the $9.40 level, which coincides with the highest volume area on the Visible Range Volume Profile (VRVP). This suggests a strong base has formed for the next move higher.
The daily Relative Strength Index (RSI) also supports this view, having bounced off a long-term descending trendline that has now flipped from resistance to support. This shift pushed the RSI back into bullish territory, indicating strengthening momentum. The first major target for bulls is the $15.08 level, a confluence of horizontal resistance and the 0.382 Fibonacci retracement.
Chainlink functions as a decentralized oracle network, a critical piece of infrastructure that provides real-world data—such as asset prices, weather information, and sports scores—to blockchain-based smart contracts. Its native LINK token is used to pay node operators who fetch and validate this data.
While the token remains significantly below its May 2021 all-time high of $52.99, the network has continued to build foundational partnerships. Chainlink is working with major financial institutions like SWIFT, UBS, and Euroclear to explore the tokenization of real-world assets and improve interbank connectivity, potentially expanding its utility far beyond the crypto-native ecosystem.
This article is for informational purposes only and does not constitute investment advice.
