Key Takeaways
How much LINK are whales accumulating?
They withdrew $2.2 million in 24 hours, continuing a five-month $24 million buildup signaling long-term conviction.
What levels could Chainlink traders watch next?
If LINK holds above $18, it may test $23 and $26 amid improving on-chain and Futures sentiment.
Chainlink [LINK] whales accelerated their accumulation by withdrawing more than 128,000 LINK, worth about $2.2 million, from OKX and Kraken within the last 24 hours.
This continued a five-month trend totaling roughly 1.4 million LINK ($24 million) in accumulation, suggesting rising institutional confidence.
The steady transfer of tokens from exchanges to self-custody indicated declining selling pressure and a preference for long-term holding.
Coupled with improving derivatives sentiment, these inflows pointed to the early stage of a structural recovery that could shape LINK’s next major cycle.
Can Chainlink maintain its rebound from the demand zone?
LINK rebounded from the $16.00–$16.50 demand zone after a month-long correction.
The TradingView chart below showed a breakout from the descending channel, and buyers were now establishing higher lows.
If momentum continued, resistance levels stood at $20.02, $23.75, and $26.06.
The defense of the demand zone suggested traders viewed it as a fair value region, reinforcing the renewed optimism within the Chainlink ecosystem.
On top of that, derivatives data echoed the Spot market’s strength.
Source: TradingView
Futures traders show stronger bullish conviction
The 90-day Futures Taker CVD indicated Taker Buy dominance, meaning aggressive buyers outweighed sellers. Futures traders were positioning for upside rather than further declines.
Such strong buy-side participation usually confirms accumulation behavior, aligning perfectly with the recent on-chain whale inflows.
Consequently, the Derivatives landscape now mirrors the Spot market’s optimism, reflecting a synchronized bullish outlook.
If this sustained demand continues, it could drive LINK’s price beyond the psychological $20 threshold in the near term.
Shorts get liquidated as bulls regain control of Chainlink
Liquidation data further confirmed the strength of the bulls. At press time, short liquidations totaled roughly $36K, while long liquidations were minimal at just $465.
This sharp contrast highlighted that traders betting against LINK were being squeezed out as prices recovered.
In fact, the market’s tendency to punish excessive short exposure underscores increasing confidence among buyers.
This liquidation pattern across Binance, Bybit, and OKX showed that bearish traders faced pressure, strengthening bullish control.
As shorts exposure faded, LINK appeared positioned to push toward the $23–$26 range.
Could LINK’s rally extend beyond $26?
Whale accumulation, strong derivatives sentiment, and short liquidations collectively strengthen Chainlink’s bullish structure.
The alignment of on-chain and technical indicators pointed toward growing institutional conviction.
If momentum persists above $18, LINK could realistically challenge $23 and potentially retest $26 in the coming weeks, signaling a renewed uptrend.
