Chainlink Eyes $20 as Whales Gobble Up Supply—Just Don’t Ask If They’re ‘Accumulating’ or ‘Prepping a Dump’

Exchange outflows for Chainlink (LINK) just hit escape velocity—traders are yanking tokens off platforms faster than a hedge fund shreds incriminating documents. The target? A cool $20, according to on-chain chatter.

Funny how ‘decentralized’ oracle networks still live or die by centralized exchange movements. But hey, when the crypto casino’s hot, even the ‘fundamentals’ crowd starts playing with leverage.

Will LINK smash through resistance, or is this another ‘institutional adoption’ narrative that crumbles faster than a Terra stablecoin? Place your bets—the house always wins.

Chainlink’s technology is gaining more traction as the decentralized finance (DeFi) sector expands and as the outlook for real-world asset tokenization improves. For instance, chainlink recently facilitated a transaction between JPMorgan and Ondo Finance (ONDO).

Chainlink’s cross-chain interoperability protocol went live on Solana (SOL) mainnet, a move that unlocked over $18 billion in assets. CCIP has also helped Solv Protocol, a Bitcoin staking platform, boost its assets to $2.5 billion, with $1.16 billion of them being powered by CCIP.

Analysts believe the RWA industry is still in its early stages and has substantial room for growth, a trend that could benefit Chainlink. Asset manager VanEck estimates the market for tokenized securities has already reached $50 billion and may exceed $30 trillion by 2030.

LINK price is also expected to benefit from Chainlink’s partnership with Swift, the global financial messaging network that processes trillions of dollars annually. The collaboration focuses on integrating blockchain infrastructure with traditional finance to enhance efficiency.

Chainlink price technical analysis

The daily chart shows that LINK formed a double bottom at $10.20 in November last year and again in April, a bullish reversal pattern that often signals strong upside momentum. LINK has also formed an ascending channel over the past three weeks and is currently supported by the 50-day weighted moving average.

The most likely scenario is a continuation toward the psychological resistance level at $20, a 27% gain from current levels. A drop below the lower boundary of the ascending channel WOULD invalidate the bullish outlook.