Chainlink (LINK) Nears $25.68 After Golden Cross and Whale Accumulation

Chainlink (LINK) is showing strong signs of a bullish breakout, driven by a rare technical event known as the Golden Cross and a surge in whale activity. The Golden Cross, formed when the short-term moving average crossed above the long-term line on the monthly chart, has historically preceded major price surges. This is the third such occurrence for Chainlink, following two in 2019 and 2023, both of which led to over 300% gains [3]. Analysts suggest that a similar move could see the price of LINK rise toward $60 if the pattern repeats [3].

On-chain data from Santiment reveals a significant increase in whale transactions above $1 million, signaling growing accumulation by large holders. This trend, which has persisted since July and August, aligns with the upward movement in LINK’s price and has historically coincided with increased market volatility [3]. While this supports a bullish continuation, analysts caution that sharp pullbacks could occur if profit-taking accelerates.

Technical indicators also reinforce the bullish narrative. The price of Chainlink recently broke above key resistance levels and is currently consolidating near $25.68. Analysts highlight a bullish cup and handle pattern with resistance near $29, suggesting a potential retest of the $52–$53 zone [3]. Meanwhile, the MACD has turned positive, adding to the case for sustained upward momentum in the coming months.

However, derivatives data tells a mixed story. Derivatives volume has fallen by 49.03% to $2.16 billion, while open interest has decreased by 2.51% to $1.87 billion. Despite this, long positions on major exchanges like Binance and OKX remain dominant, indicating continued trader optimism about upside potential [3]. Analysts warn that a rising wedge pattern on the daily chart could lead to a near-term correction before a larger upward move.

The broader crypto market has also contributed to the favorable environment for Chainlink. A dovish pivot from the Federal Reserve and growing institutional interest in digital assets have fueled a general market rally, providing additional tailwinds for LINK’s price [2]. Still, the Golden Cross alone is not a guarantee of sustained gains. Investors are now looking for confirmation through continued price strength and volume expansion to determine whether the move toward $60 is more than just a short-lived spike [3].

Source: [1]title1.............................(https://blockchair.com/news/crypto-whales-quietly-load-up-on-remittix-ahead-of-three-key-exchange-announcements-in-q4--26f878d994) [2]title2.............................(https://ts2.tech/en/feds-dovish-pivot-sparks-crypto-frenzy-ethereum-hits-record-high-bitcoin-117k-breakout-xrp-etf-moves-more-aug-22-23-2025/) [3]title3.............................(https://blockchair.com/news/ethereum-price-breaks-alltime-high-analyst-sets-7000-as-next-target--a6a417c602)