The cryptocurrency market has been abuzz with news surrounding LINK, the native token of Chainlink, which is capturing the attention of enthusiasts and investors alike. Following a notable decline in December 2024, LINK’s price is now showing promising signs of recovery. This resurgence is drawing interest, particularly after a renowned crypto analyst highlighted on X (formerly Twitter) that a significant amount of LINK tokens has been acquired by large-scale investors in recent days.
Whales Make Significant Purchase of 1.40 Million LINK Tokens
The recent purchase of over 1.40 million LINK tokens by ‘whales’—a term used to describe large investors—signals a strong show of confidence in the market. This strategic accumulation comes at a crucial time, as the crypto community eagerly anticipates the presidential inauguration, projected to be a pivotal event for the industry in 2025. The move by these investors suggests they are positioning themselves to capitalize on potential gains in the coming year, aiming not to miss out on any substantial upward momentum.
This acquisition has had a noticeable impact on LINK’s market performance, leading to a remarkable 22% price rally over the same period. The momentum appears to be continuing, driving optimism among investors.
Technical Analysis of LINK and Key Levels to Watch
Insights from CoinPedia’s technical analysis indicate that LINK is currently consolidating within a narrow range between $23 and $24, setting the stage for a potential breakout. Since the beginning of 2025, LINK has exhibited a pattern of consolidation, followed by upward movement, on the four-hour chart.
Experts and analysts are drawing parallels to the recent rally, suggesting that LINK could embark on a similar upward trajectory, potentially surging by 20% to reach the $29 level in the near future. This optimistic outlook is bolstered by LINK’s recent breach of the 200 Exponential Moving Average (EMA) on the four-hour time frame, which typically signals a transition into an uptrend.
Current Price Momentum
Presently, LINK is trading around $23.40, reflecting a 1.20% increase over the past 24 hours. Despite this positive price movement, there has been a 33.40% decline in trading volume during the same period. This indicates a decrease in market participation from traders and investors compared to the previous day, which could have implications for the token’s short-term price dynamics.
As the cryptocurrency market continues to evolve, LINK’s performance will be closely monitored by investors and analysts. The recent whale activity and technical indicators suggest that LINK could be poised for further gains, making it a token to watch in the coming weeks and months.
