Chainlink Whales Accumulate 8.10 Million LINK Worth $150 Million
The Chainlink (LINK) market has seen a price increase of 29.75% over the past week, marking it as a top gainer during the recent market rebound.
Surge in Whale Activity
- Whales holding between 100,000 and 1,000,000 LINK tokens have accumulated 8.10 million LINK, valued at over $150 million, in the last two weeks.
- This accumulation often indicates strong market confidence and can lead to significant price movements.
- Accumulation accelerated during the late-July crypto correction when LINK was priced below $15 and continued as prices rose above $20.
Price Projections for LINK
- LINK is nearing a breakout zone, targeting the $21.07–$22.65 range based on Fibonacci levels.
- The $17.83–$18.87 support zone is crucial for validating current bullish trends.
- If this support holds, LINK could reach $23 or potentially $25.12 as it completes the final wave of its Elliott Wave sequence.
- Currently, LINK trades at $20.80, up by 9.58% in the last 24 hours, with a market cap of $13.89 billion, ranking 13th in cryptocurrency.
