Chainlink (LINK) Eyes $30 Breakout as Whales Scoop Up 2 Million Tokens

Chainlink (LINK) is building momentum after major investors, commonly known as whales, accumulated nearly 2 million tokens within the past 48 hours. This significant buying activity points to potential upward price movement, with analysts targeting a breakout toward the $30 level.

Despite a recent 5.20% price decline, technical analysis reveals a falling-wedge pattern developing on the LINKBTC chart—a classic bullish reversal indicator. Short-term metrics including RSI and MACD indicate some selling pressure, but the substantial whale accumulation suggests strong underlying confidence in LINK's fundamental value proposition.

The token is currently trading at $23.31 with $1.67 billion in 24-hour trading volume, reflecting both market volatility and sustained investor interest. Prominent crypto analyst Ali Martinez emphasized the whale activity, noting it could signal an impending price rebound.