- Chainlink whale holdings grew by 2.29M LINK in 10 days, reaching 162.69M, supporting a market uptrend.
- Technical analysis shows a descending wedge pattern, signaling a potential bullish breakout with strong volume.
- Chainlink’s active addresses rose by 18.53 percent in seven days, indicating growing demand and user engagement.
Chainlink (LINK) has been steadily recovering after experiencing significant volatility throughout March. Currently trading around $15.50, the token has gained momentum, supported by increased whale accumulation and positive technical indicators.
Recent data highlights LINK’s upward trajectory, with notable resistance and support levels shaping its next potential moves.
LINK Sees Strong Gains Amid Market Recovery
Over the past two weeks, LINK has surged by 19.5%, signaling renewed buying pressure in the market. The past seven days alone have seen a 14.3% increase, suggesting that LINK is outperforming many other altcoins. Meanwhile, the 24-hour gain of 2.5% further reinforces this bullish momentum. However, despite the recent gains, LINK has declined by 12.4% over the last 30 days, indicating that the token is still recovering from a previous sell-off.
Whale activity has also increased during this period, contributing to LINK’s price surge. Over the past 10 days, large holders have accumulated 2.29 million LINK, bringing total whale holdings to 162.69 million tokens.
This accumulation aligns with the price increase, suggesting that large investors have been buying during price dips and helping sustain the uptrend. The price has already moved above the $15.149 level, reflecting this growing demand.
Key Resistance Levels and Technical Patterns
Amid the ongoing recovery, analysts have identified key resistance zones that could determine LINK’s next price movements. If the price surpasses $15.60, the next significant resistance level stands at $17.50. Further momentum could push LINK toward the $23.00–$30.00 range, which has previously acted as a strong resistance area in past market cycles.
Based on technical analysis on a daily timeframe, a descending wedge is shaping up a bullish reversal. The upper boundary of this pattern is being tested by the price, which leaves strong chances for the breakout. According to another analyst, if LINK succeeds in breaking above the $15.00 resistance, market could see a rise up to $20–$24 range in the coming weeks. Still, this breakout needs strong volume confirmation to back it and continue to rally higher.
Network Activity is Charging
Further, on chain data shows that activity spikes within the Chainlink network has surged more than just price movements. Demand and user engagement have increased 18.53% in the past seven days, as indicated by the number of active addresses. Also, the number of new addresses decreased by 10.28%, hence there is now fresh investor interest in LINK.
And the metric for tracking zero balance addresses increased by 34.35%.
 whales added 2.29M LINK in 10 days, pushing holdings to 162.69M, boosting market confidence){kind=link}