Chainlink Whales Accumulate 8 Million Tokens as LINK Surges 58%

Generated by AI AgentCoin World
Monday, Jul 21, 2025 12:17 am ET1min read
LINK
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Aime RobotAime Summary

- Chainlink (LINK) whales accumulated 8M tokens as price surged 58% to $19.40, breaking key resistance levels.

- Whale transactions ($1M-$10M) spiked 1,400%, signaling strong confidence in potential 20% price rally to $23.

- Technical analysis confirms bullish double-bottom pattern retest, but overbought RSI (82) warns of possible short-term correction.

- Exchange inflows of $1.74M suggest potential sell-offs, yet bullish momentum dominates above $18 support level.

Chainlink (LINK) has successfully retested a bullish price action pattern, indicating a potential 20% rally. This development comes as whale transactions, ranging from $1 million to $10 million, have surged by over 1,400%. The token has shown strong upside momentum, with whales continuing to accumulate despite the ongoing price rally.

Recently, a well-followed crypto expert shared insights on X (formerly Twitter), revealing that whales have purchased over 8 million

LINK
tokens in the past month. During this period, LINK surged by over 58%, rising from $12.33 to $19.40. The asset has broken through multiple hurdles, including a descending trendline and a key horizontal level at $18, which has historically acted as a reversal point. LINK is continuing its upward climb, registering a 9% gain in the past 24 hours and holding strong near the $19.41 level.

The on-chain analytics platform IntoTheBlock reveals that whale participation is still rising despite the ongoing price rally. Data shows that transactions ranging from $1 million to $10 million have surged by over 1,400%, while those ranging from $100,000 to $1 million have increased by 463%. This indicates confidence in the asset’s future price increase, which likely follows the successful retest of the breakout at a key level.

AMBCrypto’s technical analysis reveals that LINK has recently broken out and retested a bullish double-bottom pattern and is now poised for a significant price uptick. If the asset’s upside momentum continues, LINK could soar by 20% and may reach the $23 level in the near future. However, this is only possible if market sentiment remains unchanged and the asset holds above $18. Meanwhile, LINK’s Relative Strength Index (RSI) was 82 at press time, indicating that the asset is in overbought territory and may face a potential correction in the coming days.

Looking at the upside momentum, LINK holders appear to be taking advantage of the price surge by offloading their holdings. Data reveals that, over the past 24 hours, exchanges have recorded an inflow of approximately $1.74 million worth of LINK tokens. Such an inflow hints at a potential sell-off, which could slow down the upside momentum. However, when combining all metrics, it appears that bulls are currently dominating the asset, and the price may continue its upward momentum until it reaches the next resistance level.