- Chainlink (LINK) is gaining attention as crypto whales accumulate millions in tokens, hinting at a possible breakout past the $20 resistance.
- While analysts remain cautious, rising whale activity and Bitcoin’s momentum could accelerate LINK’s path to higher prices.
Chainlink (LINK), the popular Ethereum-based altcoin, is back in the spotlight as crypto whales spark renewed interest. After hovering around $15 for weeks, LINK saw a modest drop of 2% over the past seven days. Despite this, rising whale activity and a surge in exchange withdrawals may be setting the stage for a bullish breakout.
Recently, LINK climbed back to the $16 mark amid a spike in exchange withdrawals totaling over $11.2 million. This move coincides with Bitcoin’s recent explosive rally to an all-time high of $111,000, which helped shift overall market sentiment and breathe life into altcoins like LINK.
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Currently, LINK faces a tough resistance level at $20—a psychological and technical barrier that previously saw strong selling pressure. A successful breakout above this zone could pave the way toward $25 and even $30, revisiting highs last seen in late 2024. However, if LINK fails to maintain momentum above $16, a deeper correction remains a possibility.
Fueling bullish hopes are the whales. According to recent on-chain data, wallets holding between 100,000 and 10 million LINK have accumulated an additional 25 million tokens since February, bringing the total to 375 million. This uptick in large transactions is typically interpreted as a sign of growing confidence among institutional players and long-term investors.
Despite this accumulation, not all forecasts are optimistic. CoinCodex analysts project only a slight increase in LINK’s price, predicting a modest rise to $15.78 by late June 2025. They suggest LINK won’t reclaim the $20 level until August 2025, when it may average around $21.54. Their overall sentiment remains neutral.
So, how soon can LINK reach $20? The short answer: it depends. If whale accumulation continues and bullish sentiment carries over from Bitcoin’s surge, a breakout could happen much sooner than analysts expect. But as always in crypto, volatility is the only constant.
All eyes are on Chainlink. Whether it punches past $20 in weeks or stalls into summer, whale activity could tip the scales faster than anyone anticipates.
