Chainlink (LINK) Price Surges and Predicted to Rally
After a recent pullback, Chainlink (LINK) has experienced a 10% jump, surpassing the $20 level. Currently trading at $20.16, the LINK price is at a crucial breakout point, with analysts predicting a further rally to $25.
Accumulation by Chainlink Whales
Chainlink whales have shown increased interest lately, especially one specific whale wallet that has been steadily accumulating LINK over the past three days. This wallet has acquired a total of 4,556,684 tokens worth around $83.6 million.
This continuous accumulation by the whale wallet is seen as a positive sign and indicates expectations for a future rise in the LINK price.
Rise in Chainlink Holders and Withdrawal from Exchanges
The number of Chainlink holders has significantly increased, reaching 717,000 holders, up by approximately 9,000 since January. Additionally, investors are withdrawing their LINK holdings from exchanges, with the supply on exchanges decreasing to around 21.5% of the total LINK supply.
This trend suggests that accumulation is ongoing and indicates anticipation of a potential price surge in the future.
Chainlink’s Strong Price Performance
While many tokens are experiencing downtrends, Chainlink (LINK) has shown significant price momentum over the last month. With a 35.37% surge in the past month and an additional 15% gain in the past week, bullish momentum is evident on the Chainlink charts.
If Chainlink successfully breaks through the $20.58 resistance trendline, it could potentially reach $25 in the coming months.
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