Chainlink (LINK) Surges 10% as Whales Accumulate $376M

Chainlink (LINK) has recently exhibited a bullish trend, driven by significant accumulation of LINK tokens by crypto whales. As of April 22, 2025, data indicated that whales had purchased LINK tokens worth 376 million. This accumulation occurred when the token was trading at the $6.30 level, establishing a critical support zone and shifting market sentiment to positive due to increased investor confidence.

According to crypto analyst Ali, this purchase has reinforced the $6.30 level as a strong support, making it unlikely for the LINK price to fall below this point in the near future. The presence of green clusters on the on-chain analysis chart further confirms strong demand at this level. These clusters indicate that a significant number of wallets are holding LINK and are currently in profit, suggesting price stability or an upward trajectory.

Despite the bullish trend and optimistic market sentiment, a resistance level has been identified at $15.22. This price point serves as a potential ceiling where selling pressure might be more intense. The $15.22 level corresponds with a red cluster on the Ali Chart, signaling that many addresses holding LINK at this price are currently at a loss. Should the price return to $15.22, these holders might be motivated to exit their positions to recover their initial investments, even without securing profits. Their behavior could result in selling pressure that may hinder further price movement unless supported by significant trading volume.

Alongside the massive accumulation by crypto whales, Chainlink has also seen considerable outflow from centralized exchanges, which generally indicates accumulation and reduced selling pressure. Over $120 million worth of LINK has been withdrawn from exchanges between March 23 and April 22, 2025. This movement indicates that investors are relocating their assets to long-term storage, an action often considered positive for price momentum. During this period, the LINK price rose from $22.27 to $24.50, showing an increase of 10%.

With the interest of crypto whales in LINK and the positive market sentiment, Chainlink (LINK) is predicted to begin its second quarter with potential upward momentum, possibly reaching a high of $16.34, indicating a 21.20% ROI from its current price point. The projected Chainlink price range is between $10.60 at the lower end and $16.4 at the upper limit, with an anticipated average of $13.82 for the month.

Overall, the Chainlink price prediction reveals that LINK has the potential to reach $16 due to the crypto whales’ accumulation and wallet activity. There is robust support at $6.30, declining exchange reserves, and strengthening technical indicators suggest the Chainlink price may break out. However, whether LINK can surpass the $15.22 level is dependent on the trading volume and market sentiment. Investors should monitor these key levels closely as LINK’s next directional move unfolds in the coming weeks.