Ethereum News Today: Chainlink Price Surges 6.34% on Strong Fundamentals and Whale Activity

Chainlink (LINK) is showing notable bullish momentum driven by both fundamental and technical developments. As of August 16, the price stood at $23.61, reflecting a 6.34% increase for the day as the asset broke out of a consolidation phase and surpassed the $20 psychological level [1]. The recent surge has been supported by Chainlink’s innovative Chainlink Reserve, which channels both on-chain and off-chain enterprise revenue into LINK, creating a continuous demand mechanism [1]. This structural advantage positions Chainlink differently from competitors, as it ties enterprise adoption directly to token accumulation.

From a technical perspective, the daily chart indicates strong bullish signals. The price has been hovering near the upper Bollinger Band at $25.13, signaling overbought conditions but also sustained momentum. A recent wick at $24.83 suggests possible short-term profit-taking. Key support levels include $22.00 and $19.50, with resistance targets at $25.50–26.00 and a potential breakout target at $30.00. A close above $25 would likely confirm a move toward $28–30, while a breakdown below $22 could bring in more cautious market behavior [1].

In addition to price action, whale activity has been a key factor. Whale transactions have reached a 7-month high as the price approached $22, with analysts suggesting that a successful support hold could push the price toward $25. On the other hand, a breakdown could bring the price down to $19, although this is seen as a less likely near-term outcome [3]. Cointribune noted a slight pullback after the daily high of $24.74 on August 13, but the price has remained above previous levels, indicating ongoing accumulation and bullish sentiment [9].

Looking at short-term price predictions, several analysts have suggested potential price ranges. BanklessTimes highlighted a potential surge to a multi-month high of $24.7 before consolidation or a breakout [4]. Blockchain News predicted a price range of $24–$26 within 30 days, depending on interaction with key resistance levels [5]. Another forecast from 30rates.com suggested the price could reach $45.08 by the end of the month [6]. Meanwhile, CryptoBrowser.io cited a more aggressive target of $35, reflecting strong market confidence [8].

Despite the positive outlook, it is important to note that these forecasts vary in timeframes and assumptions. The more aggressive targets, such as $45.08 or $35, are based on speculative scenarios and do not reflect immediate price action. The more conservative estimates, such as $28–30 or $24–26, are grounded in current technical levels and whale activity. The longer-term forecast from Changelly, which predicts an average price of $153.13 in 2025, is outside the scope of short-term price movement and should be treated as a broader market outlook [7].

Chainlink’s expanding role beyond oracles is also a key factor. The platform now supports over 2,000 oracles across 60+ blockchains, securing $80 billion in value. With its Cross-Chain Interoperability Protocol (CCIP) and automation tools, Chainlink is increasingly being used for institutional-grade blockchain solutions, which are expected to drive continued demand for LINK [1].

Overall, the combination of structural demand, bullish technical indicators, and whale activity suggests that Chainlink is well-positioned for a potential upward move in the coming weeks. However, as with all crypto assets, volatility remains a key risk, and traders should closely monitor key support and resistance levels.

Source:

[1] How High Can Chainlink Price Go This Month? (https://cryptoticker.io/en/how-high-can-chainlink-price-go-this-month/)

[2] Chainlink Price, LINK Price, Live Charts, and Marketcap (https://www.coinbase.com/price/chainlink)

[3] Chainlink Whale Activity Peaks — Can LINK Price Hold $22? (https://thecurrencyanalytics.com/altcoins/chainlink-whale-activity-peaks-can-link-price-hold-22-190881)

[4] Chainlink Price Prediction: Elliot Wave Points to More LINK Gains (https://www.banklesstimes.com/articles/2025/08/15/chainlink-price-prediction-elliot-wave-points-to-more-link-gains/)

[5] LINK Price Prediction: $24-26 Target in 30 Days Despite ... (https://blockchain.news/news/20250816-price-prediction-target-link-24-26-in-30-days-despite)

[6] CHAINLINK PRICE PREDICTION TOMORROW, WEEK ... (https://30rates.com/chainlink)

[7] Chainlink (LINK) Price Prediction 2025 2026 2027 - 2030 (https://changelly.com/blog/chainlink-link-price-prediction/)

[8] Ethereum (ETH) Price Prediction, Chainlink (LINK) Bullish ... (https://cryptobrowser.io/news/ethereum-eth-price-prediction-shoots-for-4800-chainlink-link-targets-60-rally-as-cold-wallet-presale-crosses-62m/)

[9] Chainlink Accumulation by Whales Signals Potential ... (https://www.cointribune.com/en/chainlink-accumulation-by-whales-signals-potential-breakout-amid-growing-network-activity/)