LINK Whales Buy 1.4 Million Tokens, Chainlink’s 20% Rally Ahead?
Chainlink’s native token LINK appears to be attracting the attention of cryptocurrency enthusiasts as its price shows signs of recovery after a sharp drop in December 2024. On January 5, 2025, a well-known cryptocurrency expert posted on X (formerly Twitter) that whales had purchased more than 1.4 million LINK tokens in the past four days.
Whale buys 1.4 million LINK tokens
These high-profile acquisitions by Whales demonstrate confidence and interest as the market approaches the presidential inauguration, which is expected to be one of the most significant game-changing events for the crypto industry in 2025.
Furthermore, this accumulation suggests that whales are positioning themselves for 2025, ensuring they don’t miss out on any substantial upside momentum. However, it is observed that this noteworthy acquisition resulted in a 22% price increase during the same period and continues to drive the upward momentum.
LINK Technical Analysis and Upcoming Levels
According to technical analysis from CoinPedia, association It appears to be consolidating within a tight range between $23 and $24 and is preparing for a breakout. Since the start of 2025, LINK has consolidated twice on the four-hour timeframe before showing upward momentum.
Experts and analysts speculate that this will be a similar upward rally to the one observed over the past four days. Based on recent price action, LINK is very likely to surge 20% to the $29 mark in the coming days.
On a positive note, the altcoin just broke above the 200 exponential moving average (EMA) on the four-hour time frame and closed above it, indicating a possible shift into an uptrend.
Current Price Momentum
Currently, LINK is trading near $23.40, up 1.20% in the past 24 hours. However, its trading volume fell by 33.40% during the same period, indicating that traders and investors were less involved than the previous trading day.
