Chainlink Whales Amass $97M in LINK as Price Eyes $95 Breakout

Chainlink (LINK) maintains stability at $21.70 amid increasing institutional interest, with on-chain data showing whales acquired $97 million worth of tokens in August. Analysts highlight a symmetrical triangle pattern forming since 2021—a technical indicator that has historically preceded significant price surges.

The cryptocurrency's reserve addresses have absorbed 65,550 LINK ($1.4 million) at an average price of $16.83, reflecting corporate Bitcoin accumulation strategies. Declining exchange balances are creating supply pressure that could intensify upward volatility. A breakout above the $24 resistance level would confirm bullish momentum, potentially sparking a multi-leg rally toward $95.

Market sentiment is further bolstered by regulatory developments, including Trump's executive order supporting crypto inclusion in 401(k) plans. Rising open interest indicates traders are preparing for increased volatility, with the $24-$26 range emerging as the next critical test for LINK's upward trajectory.