Major Investors (referred to as "whales") Gobble up $150 Million worth of LINK Cryptocurrency within a fortnight - Anticipation of Further Price Surges?

Major Investors (referred to as "whales") Gobble up $150 Million worth of LINK Cryptocurrency within a fortnight - Anticipation of Further Price Surges?

Chainlink (LINK) Shows Bullish Short to Medium-Term Outlook

In the world of cryptocurrencies, Chainlink (LINK) has been making waves, with a bullish short to medium-term outlook supported by strong on-chain whale inflows and technical breakouts consistent with Elliott Wave patterns.

The past week has seen LINK as one of the top market gainers, with its price increasing by 29.75%. At press time, LINK trades at $20.80, gaining by 9.58% in the past 24 hours. This growth has been fueled by institutional or high-net-worth investors who continue to anticipate further price appreciations on LINK despite recent gains.

The Chainlink market has shown strong bullish action in recent days. After consolidating near $15-$18 levels in early 2025 and forming a rounded bottom pattern, LINK experienced a bullish breakout above resistance zones around $20 and $24. The price sits near a key resistance zone between $24.20 and $24.64 and has recently broken a descending trendline that was in place since November 2024, signaling a potential wave of upward movement.

Prominent market analyst Ali Martinez has identified an encouraging trend under this positive price action. Martinez reported a major rise in whale accumulation on the Chainlink network. The added LINK, valued at more than $150 million, was added to their wallets. This significant net inflow of $12.61 million from spot whales indicates strong buying pressure from large holders or smart money, supporting the current upward momentum and price resilience above critical volume profile supports at around $21.

The potential breakout zone, derived from the Elliott Wave sequence and Fibonacci retracement, corresponds to the 50% and 61.8% Fibonacci extension levels. If the support zone holds, a final push toward $23 or even the 78.6% Fibonacci level near $25.12 is possible.

However, it's important to note that a failure to hold above $20-$18 support levels could invalidate this bullish pattern and cause retracement towards lower supports around $12.5 and $10.

With a market cap of $13.89 billion, Chainlink ranks as the $13th largest cryptocurrency. MoreCryptoOnline, a popular X analytics page, shares this insight on Chainlink's potential price action. For August 2025, estimates vary but generally expect LINK in the range of $18 to $24, with potential to break above $24 if bullish momentum continues. Through 2025, prices are forecasted to reach highs between roughly $17 and $24, with some long-term bullish targets as high as $32 in 2025 and up to $189 by 2030 as ecosystem adoption (like CCIP) grows.

In conclusion, the current analysis and prediction for Chainlink's (LINK) price based on whale activity and Elliott Wave theory suggest a favorable near to medium-term outlook for Chainlink, potentially driving prices above $24-$26 resistance levels soon, assuming market conditions remain supportive. However, failure to maintain critical support could lead to significant retracement.

1. Institutional or high-net-worth investors are anticipating further price appreciations on LINK, driving the short to medium-term market direction of the altcoin.
2. The Chainlink wallet of whales has seen a significant net inflow of LINK worth more than $150 million, indicating strong buying pressure and support for the current upward momentum.
3. The current bullish breakout in the Chainlink market is supported by technical analysis, specifically Elliott Wave patterns and Fibonacci retracement levels.
4. If the support zone holds, a final push toward $23 or even the 78.6% Fibonacci level near $25.12 is possible, according to the analysis by market analysts.
5. Prices for Chainlink (LINK) are forecasted to reach highs between roughly $17 and $24 through 2025, with some long-term bullish targets as high as $32 in 2025 and up to $189 by 2030, as ecosystem adoption grows.

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