The post Crypto Market Tanks, but Whales Are Loading Up on This Altcoin—A Major Breakout May Be Near appeared first on Coinpedia Fintech News
Chainlink price has been closely following the market trend as it breaks the support following a rejection from the local highs. The token is following the Bitcoin price rally closely and hence is expected to maintain a strong bearish trend. In such situations, whales usually become active and begin to accumulate tokens at a discounted price. The data from Santiment suggests Chainlink whales have added more than 20 million LINK since November.
The above chart shows that Chainlink’s top 100 largest wallets have accumulated nearly 20.46 million worth $263 million. The accumulation dropped significantly in the last week of October, which flipped as the whales began to re-accumulate heavily since the first few days of November. Along with this, another major reason to be bullish on the LINK price rally is ETF inflows that have been positive this month.
LINK inflows continue to remain steady for now, as the token has been quietly accumulating while everything else implodes. This suggests the LINK could be nearing the end of its bearish trajectory, which may result in further upside from here. Although the price has broken the crucial support, the Chainlink bulls seem to have capitulated the pivotal range around $12, which may act as a strong base.
Chainlink Price Analysis: Will LINK Reclaim $15 Before the End of 2025?
Chainlink price is known for its stability, as it displays low volatility in times of higher market volatility. The token consolidated between $14.5 and $13.23, which acted as strong resistance and support since the beginning of the month. The long-term price action remains bearish, with the possibility of hitting the support below $12. However, in the short term, the price seems to be discovering an interim support at $12.6 that may help the token to trigger a strong recovery.
After the freefall from $13.68, the LINK price is hovering around the newly formed support of around $12.78. Besides, in the 4-hour chart, the RSI has dropped to the lower threshold, while the MACD hints towards a drop in selling pressure, with the possibility of a bullish crossover. With this, the price could recover the broken support at $13.23, which may end the brief correction, pushing the price towards the resistance at $14.5. On the bearish side, a failure could drag the levels to $11.5, with the fear of a further pullback to $10 or below.
The Bottom Line—Will LINK Price Rise to $15 in 2025?
The Chainlink price has lost all the gains incurred since the start of the year by plunging from the highs at $27 to the lows close to $12. The technicals have remained bearish since then and are yet to hit the lows. Therefore, the price is expected to revisit the lows close to $11 that could attract the massive attention of the bulls. As whales have already entered, the confidence of the bulls and the market participants seems to be relatively high. Hence, the LINK price may initiate a recovery before the end of 2025, but may not reach $15.