NAIROBI (CoinChapter.com)— Chainlink (LINK) is gaining attention as its price climbs and network activity grows. Analysts point to increased whale accumulation and rising institutional interest as signs of a potential breakout, with $100 emerging as a key target. LINK recently broke above $13.65, hinting at a shift from consolidation to upward momentum.
Whale Activity and Institutional Interest Bolster LINK’s Momentum
Chainlink recently climbed past $13.65, its first major move above this level since July. Santiment data shows whales—wallets holding 100,000 to 10 million LINK—boosted their holdings by 8.2% over seven weeks, adding $369.8 million. In one day alone, 264 whale transactions were recorded, the highest since mid-September.
Large holders now control 68% of LINK’s supply, highlighting their influence on price movements. Transactions exceeding $100,000 totaled $850.91 million in the past week, reflecting strong interest from high-value participants and institutional investors.
Trader Rocko identified the breakout as an entry into an accumulation phase, indicating further potential upside. Resistance at $21 is the next critical level, with projections for LINK to climb to $29 and $44 if current momentum holds.
Analysts Predict LINK Could Reach $100 or Higher
Marine, a crypto analyst, forecasts a 7x rally to $100, citing Chainlink’s increasing adoption by institutional players. Marine also noted that while XRP is still viewed as the “banker’s cryptocurrency” by retail traders, Chainlink is emerging as a strong alternative due to its superior technology and partnerships.
Similarly, 50_LINK projects price targets between $150 and $500, driven by Chainlink’s utility in decentralized finance (DeFi) and blockchain ecosystems. Both analysts emphasize the significance of LINK’s institutional adoption, positioning it for sustained growth.
Network Growth Adds to Optimism
Chainlink’s network growth reinforces its bullish outlook. Over the past week, new addresses increased by 1.65%, reflecting rising retail interest. Meanwhile, zero-balance addresses fell by 3.53%, signaling greater engagement among active users.
At its current price of $18.53, LINK has climbed 11.21% in the last 24 hours, putting 65% of its holders in profit, according to on-chain data. This rally also positions LINK at rank #16 by market cap, with large holders dominating 68% of the token’s supply. Additionally, 78% of holders have kept their tokens for over a year, further signaling long-term confidence.
Chainlink’s breakout above $13.65, rising whale activity, and strong on-chain data signal potential for more growth. Notably, analysts highlight $21 as a key resistance level to watch as LINK gains momentum.
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