Chainlink's LINK token rose about 4% in the last 24 hours to $8.75, pushing monthly gains to roughly 10%. The move comes as on-chain data shows the highest whale activity in five months and exchange balances took a hit after 1.26 million tokens were pulled out in a single day last week.
Price action and the levels that matter
Analyst CryptoPatel says LINK is nearing a major move, with targets as high as $100. A confirmed higher-timeframe close above $10.87 could open the way toward $25, $50, and $100. On the downside, a close below $4.761 would invalidate the bullish setup.
The weekly chart has spent months building a base above the long-term support zone. A descending trendline is now pressing into the current structure, and TheBoss, another analyst, says LINK is 'approaching a decisive point.' TheBoss also highlighted RSI, MACD, and ADX as momentum indicators to watch.
Whale activity spikes
Whale transactions worth more than $100,000 hit 246 in a 24-hour period, the highest daily level in five months. Wallets holding between 100,000 and 10 million LINK now control 466.31 million tokens, or 46.57% of the total supply. Historically, the activity of these large holders has tracked LINK's price fairly closely.
The exchange outflow of 1.26 million LINK last week suggests tokens are moving to cold storage, a pattern often seen before accumulation phases.
Institutional adoption keeps building
The DTCC listed Chainlink among its technology providers for tokenized US securities trades. CCIP, Chainlink's cross-chain interoperability protocol, expanded its support across institutional and crypto networks, including Canton and Robinhood Chain.
Standard Chartered sees strong long-term potential for LINK if tokenization growth accelerates, with a price target of $200 by the end of 2030. That's a long way off, but the bank's endorsement adds to the institutional narrative.
The immediate question is whether LINK can close above $10.87 on the higher timeframe. If it does, the path toward $25 and beyond opens up. If it fails, the $4.761 level becomes the line in the sand.
