A fierce battle unfolds in the Chainlink market. Bulls are pushing for higher prices, while bears are fighting for control. Whales have accumulated large amounts of LINK tokens, hinting at a possible breakout. Price action suggests a major shift ahead. Traders prepare for a decisive move as support levels face tests. A surge toward $30 remains possible, but another drop could unfold. The next few weeks hold the key. Bitcoin’s trend will influence what happens next.
$Link could soon see $50+ ⚠️– $Link has completed its potential 1 of its 3rd wave prepping up for a monster rally with minimum targets of50+– Only invalidation – White line of doom– Pull backs are for longs pic.twitter.com/59CnSPjFXj— The Penguin (@KayneStanway) March 30, 2025
Whales Accumulate as Chainlink Retests Support
A sharp price drop sent Chainlink down 9.1% in 24 hours. A broader altcoin selloff triggered the decline. LINK had surged 35% from a monthly low, reaching an 18-day high of $16. A retracement followed, bringing the price near $14. Support levels now face pressure as uncertainty grows.
Since Q4 2024, Chainlink has traded within a descending channel. Analysts watch the $12–$13 zone closely. A breakdown may lead to further losses. Holding above the lower trendline could spark a rebound toward the $19–$20 resistance area. Whales and institutional investors continue accumulating, strengthening long-term bullish sentiment.
On-chain data shows that 67% of LINK holders classify as whales. Among them, 54% remain in profit despite market swings. More than $4 million in LINK left exchanges last week. A shrinking exchange supply often signals potential price appreciation. Fewer tokens available for trading could lead to stronger price action.
Breakout or Breakdown? The Road to $30
Bitcoin and Chainlink are closely correlated, with a coefficient of 0.92. A sharp Bitcoin decline may drag LINK lower. If Bitcoin stabilizes, LINK could push past resistance. A strong monthly close above $14–$15.5 would confirm bullish momentum. This scenario could pave the way for a move toward $19–$30.
Long-term projections favor growth. Analysts see $30 as a realistic target for 2025. Some forecasts extend as high as $259 by 2030. Adoption in decentralized finance (DeFi) and real-world asset (RWA) tokenization increases utility. Institutional interest continues to rise, supporting a bullish outlook.
Market conditions remain volatile. A failure to hold support may send Chainlink toward $12 before recovery attempts begin. Bitcoin’s price action will play a crucial role in determining the next direction. Traders and investors monitor technical levels, sentiment shifts, and macroeconomic trends.
Institutional buying signals strength. However, short-term risks persist. A breakout could fuel momentum, while another dip may lead to prolonged consolidation. The next major move depends on key technical confirmations and broader market trends.