- LINK prices surged 18% in just three days after retesting a critical support level near $19.
- Token whale activity intensified as more than 1.40 million LINK was accumulated, signaling potential for further rallying.
Chainlink (LINK) has been the center of attention among crypto investors after a recent significant surge. In the last three days alone, LINK has surged about 18% after rebounding from the key support zone at around $19.
The rebound indicates the strength of assets despite market volatility.
Source: TradingView
The notable increase in whale activity adds fuel to the rally. According to a renowned analyst on X (formerly Twitter), large holders purchased over 1.40 million LINK in the last 96 hours.
Such a large accumulation often hints at growing confidence among Chainlink’s major investors, perhaps signaling long-term bullish sentiment.
Source:
FX Outflows Decline, But LINK Whales Show Confidence
A closer look by AMBCrypto into LINK’s on-chain metrics revealed positive trends for the token.
Exchange outflows – which typically indicate the movement of tokens off trading platforms – have steadily declined over the past three days.
This suggests that fewer LINK holders are moving their assets to exchanges for potential sales, reflecting market optimism.
Source: CryptoQuant
Interestingly, while the Long/Short ratio was bearish, short positions were slowly decreasing, as indicated by Coinglass data. This trend could be attributed to profit taking after the recent rally.
However, the continued accumulation of capital by whales suggests a focus on long-term gains rather than short-term speculation.
Source: Coinglass
Could whale activity drive up prices?
Sustained whale accumulation could be a signal for further price increases. Historically, increased whale activity has often preceded bull rallies in the crypto market.
If this trend continues, LINK could see stronger bullish momentum in the coming days.
Read Chainlink (LINK) Price Prediction 2025-2026
Additionally, the slow decline in the long/short ratio supports the possibility of a reduction in selling pressure.
Combined with whale confidence, this scenario could pave the way for LINK to test higher resistance levels.
