Chainlink ‘Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation
Chainlink ‘Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation On Thursday, Chainlink (LINK) climbed from Monday’s lows to reclaim the $23 mark for the first time in over a week. The surge fueled investors’ bullish sentiment, with some market watchers forecasting a breakout to new highs. Chainlink Whales Go On Buying Spree Chainlink jumped 9% in the past day, tapping the $23 mark for the first time in ten days. LINK rallied alongside the rest of the market during the post-election pump, surging 200% in one month. During this rally, the cryptocurrency surpassed its Mach 2024 high of $22 and reached a new multi-year high of $30. However, the December pullbacks halted LINK’s momentum, with Chainlink hovering between $20 and $25 for the rest of the month. LINK attempted to retest the $25 resistance zone during the start-of-year run but retraced during the recent market corrections, driving the price to $18, its lowest level in over a month. Amid the current market recovery, the cryptocurrency has surged 27% from its Monday low and caught the attention of analysts and large-scale investors. Altcoin Sherpa signaled that LINK could likely see a “V shape reverse up” following the recovery from the recent market “nuke.” On Thursday, Crypto analyst Ali Martinez highlighted that whales have “heavily accumulated” LINK in the last few days. According to the post, large-scale investors have purchased 1.35 million LINK, worth around $31 million, since January 14. It’s worth noting that whales have purchased significant amounts of LINK over the past weeks. In late December, Chainlink whales bought around 3.58 million LINK tokens, valued at $77 million. Meanwhile, on-chain data shared by the analyst shows that these wallets had acquired 1.4 million tokens in the first four days of 2025. LINK Holds Crucial Level Martinez suggested that the buying pressure could further impulse LINK’s momentum. Chainlink has been forming a bull pennant since hitting its December high and failed to break above the upper trendline earlier this month. However, today’s jump sent LINK’s price past the pattern’s upper trendline and, according to the analyst, eyes at the $50 target. Crypto analyst Jelle noted that Chainlink tested a key resistance into support. LINK turns key resistance into support. Source: Crypto Jelle on XThe analyst previously stated that Chainlink’s weekly chart was “slowly turning into a true thing of beauty” after the “painful retest” and holding the key level “firmly.” Jelle pointed out that LINK turned the $18-20 resistance zone into support after the recent retrace and rebound. This zone has been a crucial horizontal level for the token, as Chainlink has rallied to its all-time high (ATH) and new local highs when it was turned into support. Ultimately, Jelle set LINK’s initial target to $30 before the run to new ATHs. As of this writing, Chainlink is trading at $23.56, a 6% increase in the daily timeframe. Chainlink’s performance in the one-week chart. Source: LINKUSDT on TradingViewFeatured Image from Unsplash.com, Chart from TradingView.com Rubmar Garcia Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies –or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages – currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.