Chainlink (LINK) rebounds sharply from multi-week lows as large investors scoop up millions in tokens, signaling renewed confidence in the network’s fundamentals.
Chainlink (LINK) has staged an impressive comeback, rising 14% in the past 24 hours after large holders accumulated over $116 million worth of LINK tokens during last week’s crash. The surge highlights growing optimism among institutional and whale investors who appear to be buying the dip amid broader crypto volatility.
Technical charts show LINKUSD rebounding from a strong support zone between $16 and $17, marked in orange, where price previously consolidated before the August breakout. The sharp bounce has pushed the token back toward the $19 level, with traders now eyeing the next resistance zone near $21–$22 (green zone).
“This is a clear case of accumulation after capitulation,” said one of BITX market strategist. “Whales have been quietly building positions since the recent correction, and that kind of behavior often precedes a sustained price recovery.”
On-chain data supports this trend. Whale wallets holding between 100,000 and 10 million LINK have collectively added roughly $116 million in tokens since early October, suggesting strong confidence in long-term fundamentals.
The latest price structure shows that LINK successfully bounced from the lower demand area, maintaining its medium-term bullish trend. The daily volume has also expanded, reflecting renewed market participation after a period of relative stagnation.
“The $16 level acted as a textbook accumulation zone,” explained BITX technical analyst. “If LINK can close above $19.50, the next target would be the $22 area, followed by potential upside toward $27 if momentum continues.”
Despite the rebound, traders remain cautious as macro uncertainty and Bitcoin dominance continue to influence altcoin behavior. However, the strength of whale accumulation and robust network activity have reinforced Chainlink’s position as one of the most resilient projects in the market.
With whales actively accumulating and price rebounding from critical support, Chainlink appears to be regaining bullish traction. Technicals point to a potential continuation toward $22, provided buying pressure holds above $17.50. As accumulation grows, analysts believe LINK could be setting the stage for its next major breakout, signaling renewed confidence in the oracle network’s long-term growth trajectory.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.