- Whale accumulation and bullish chart patterns hint at a potential 35% breakout.
- On-chain metrics and declining exchange reserves strengthen LINK’s bullish outlook.
A major Chainlink [LINK] whale has re-entered the market, spending $2 million to acquire 139,860 LINK at $14.3. This wallet now holds a total of 147,553 LINK, marking a significant accumulation move.
Interestingly, this same whale previously realized $161K in profit from earlier trades, indicating a high level of conviction.
The size and timing of this investment suggest a strategic buildup ahead of a potentially volatile market phase, especially as LINK shows signs of technical compression.
A technical breakout or another rejection?
At the time of writing, LINK traded at $13.43, down 4.27% over the last 24 hours. The price was compressing within a symmetrical triangle and descending wedge, showing clear signs of buildup before a major move.
A breakout above the $15.68 resistance could unlock a target around $18.18, translating to a 35% surge.
However, persistent rejections near the whale’s entry zone at $14.3 suggested that bulls still faced strong overhead pressure.
A breakdown below the $12.57 support would invalidate the bullish setup and likely trigger a deeper correction. Therefore, this zone remains critical for LINK’s next trend.
Source: TradingView
Does the low MVRV Ratio favor more upside?
The MVRV Z-score for LINK was at 3.09 at press time, significantly lower than the overheated levels above 7 seen in late 2024.
This metric reflects that most holders are not sitting on excessive unrealized profits, reducing the chance of mass profit-taking.
Historically, Z-scores in the 2–3 range have provided strong accumulation zones and often marked the early stages of price rallies. Therefore, the current MVRV level indicates a favorable risk-reward setup.
However, it also means LINK must attract fresh demand to escape this accumulation phase and build momentum toward higher price targets.
Source: Santiment
Are users slowly returning to the network?
Daily active addresses have shown a moderate increase, with 921 recorded at the time of writing. This is still below the high-activity periods seen in late 2024, but it represents a steady recovery from March lows.
A consistent rise in active addresses often reflects growing participation and network usage, both of which are crucial for sustaining price moves.
Furthermore, renewed user activity can support bullish narratives, especially when paired with favorable technical setups. This uptick suggests renewed interest in LINK, even if it’s not yet at peak intensity.
Source: Santiment
Are exchange reserves confirming accumulation?
Exchange reserve data reveals a 3.11% drop, with the total reserve value now at $2.15 billion. This decrease indicates investors are withdrawing LINK from exchanges, which typically signals intent to hold rather than sell.
Additionally, declining reserves reduce immediate sell pressure and often precede price rallies.
Combined with whale accumulation and improving on-chain sentiment, this trend strengthens the bullish case. Therefore, exchange behavior aligns well with a long-term accumulation phase.
Source: CryptoQuant
Conclusion
If LINK breaks above $15.68 with strong volume, the 35% rally to $18.18 becomes likely. Whale accumulation, low MVRV risk, decreasing exchange reserves, and steady user activity all support this outcome.
However, failure to hold above $12.57 could flip the narrative. Therefore, LINK’s breakout zone remains the ultimate trigger for its next big move.
