Chainlink (LINK) Whale Activity Surges as $20 Price Target Gains Traction
Chainlink (LINK) is experiencing heightened whale activity, with more than 63 million tokens pulled from exchanges over the past month. This accumulation by major holders indicates growing confidence in LINK's upside potential, as reduced exchange supply often precedes price rallies.
Market analysts identify $20 as a critical psychological barrier, with on-chain data and bullish sentiment supporting the case for upward movement. The migration of tokens to cold storage suggests investors are adopting longer-term positions rather than engaging in short-term speculation.
Observers note that sustained buying pressure against dwindling exchange liquidity could create ideal conditions for price growth. Chainlink's oracle network maintains strong adoption throughout decentralized finance (DeFi), providing fundamental support for the technical bullish outlook.
