Chainlink Today News: Whale bought $24 million worth in 5 months, is LINK's next target $26?

Chainlink (LINK) Whale has accelerated token accumulation, withdrawing over 128,000 LINK (worth approximately $2.2 million) from mainstream CEX in the past 24 hours, continuing a sustained net accumulation trend totaling approximately $24 million over the past five months. This stable transfer from exchanges to self-custody marks an enhancement of long-term holding belief and a reduction in selling pressure. With LINK successfully rebounding from the demand zone of $16.00 to $16.50 and bullish sentiment in the futures market simultaneously increasing, if the price can maintain above $18, Chainlink is expected to challenge resistance levels of $23 and $26.

On-chain signals: Whales continue to accumulate, highlighting long-term conviction

Chainlink news shows that on-chain activity indicates that large investors are actively consolidating their LINK holdings, which is often an early structural signal for a bullish trend.

Whales are accelerating the withdrawal of LINK from mainstream CEX to self-custody wallets. In just the past 24 hours, they have withdrawn over 128,000 LINK, worth approximately 2.2 million dollars. This action is part of a continuous accumulation pattern that has lasted for five months, with a cumulative inflow of approximately 1.4 million LINK, totaling about 24 million dollars.

This ongoing accumulation indicates:

1. The selling pressure has weakened: The outflow of tokens from the exchange has reduced the immediate selling supply in the market.
2. Institutional confidence improves: The long-term shift to self-custody reflects institutional investors' long-term belief in LINK and the early stages of structural recovery.

Price Action and Technical Analysis: Successfully Defending the Demand Zone

Under the accumulation of Whales, Chainlink's price trend also shows a bullish technical structure, successfully defending the key price support area.

After a month-long adjustment, LINK has successfully rebounded strongly from the demand zone of $16.00 to $16.50. TradingView charts show that LINK has broken through the descending channel, with buyers forming higher lows. This indicates that traders view the $16.00 to $16.50 area as a fair value zone, further reinforcing the renewed optimism in the market.

If the current upward momentum can be maintained, the resistance levels that LINK needs to pay attention to are 20.02 USD, 23.75 USD, and 26.06 USD. Successfully defending the demand zone and breaking through the descending channel indicates the beginning of a new major upward cycle.

Futures Market: Buyer Dominance and Short Liquidation

The data from the derivatives market is highly consistent with the bullish sentiment in the spot market, indicating that long positions are being actively established.

The 90-day futures taker trading volume deviation ( Futures Taker CVD ) indicator shows that takers are dominating buying, which means aggressive buyers outnumber aggressive sellers. Futures traders are actively deploying bullish positions rather than betting on further declines. This strong buyer participation perfectly corroborates the on-chain Whale accumulation behavior.

In addition, the liquidation data also confirms the strength of the bullish forces. As of the time of writing, the total amount of short liquidations is approximately $36,000, while long liquidations only amount to $465, highlighting a stark contrast. This underscores that traders shorting LINK are being forced out of the market during the price rebound. As short exposure diminishes, LINK is expected to break through the psychological barrier of $20 and push further into the range of $23 to $26.

Investment Outlook: Structural Recovery and Key Price Levels

Whales accumulating, strong derivatives sentiment, and short liquidations together reinforce Chainlink's bullish structure. The synchronous alignment of on-chain and technical indicators points to an enhancement of institutional belief.

If LINK can continue to hold above the key support level of $18, it will have the ability to challenge $23 in the coming weeks and there is a real possibility of retesting $26. For investors, in addition to keeping an eye on Chainlink news for information, $18 is a key price level that needs close attention in the near term. Once it stabilizes, it can confirm that a new upward trend has formed.

Conclusion

Chainlink has shown early signs of structural recovery under the continuous and large-scale accumulation support by Whales. The successful Rebound from the $16 demand zone, along with signals dominated by bulls in the futures market, lays the foundation for further rise in LINK's price. The current market structure is favorable for bulls, and once it breaks through the resistance levels of $20 and $23, Chainlink is likely to enter a new upward cycle, with $26 seen as the next important bullish target.

Disclaimer: This article is Chainlink news and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.