Chainlink Surges to $23 as Whales Accumulate 1.35 Million LINK
Chainlink (LINK) has regained the $23 mark, rising 9% in one day. This marks its first time above this level in ten days, driven by bullish investor sentiment.
Key Developments
- Chainlink surged 200% over the past month, surpassing its previous high of $22 and reaching a multi-year peak of $30.
- The cryptocurrency faced pullbacks in December, fluctuating between $20 and $25.
- Recent market recovery led to a 27% increase from Monday's low, attracting attention from analysts and large investors.
- Whales have accumulated 1.35 million LINK worth approximately $31 million since January 14.
- In late December, whales purchased around 3.58 million LINK tokens valued at $77 million.
Price Movement and Analysis
- LINK broke past a key resistance level, forming a bull pennant pattern.
- Analysts project a potential target of $50, with an initial focus on $30.
- LINK is currently trading at $23.56, reflecting a 6% increase within the day.
