• Whales have accumulated 1.35 million LINK tokens in the past 24 hours.
• From a technical perspective, LINK’s price has maintained support levels near $19, signaling strong buying interest at this threshold. 

In the past 24 hours, Chainlink [LINK] has seen a remarkable surge in whale activity, with large holders accumulating 1.35 million LINK tokens. This significant accumulation points to rising confidence in Chainlink’s long-term potential. 

This development could be linked to upcoming network upgrades, the project’s expanding utility, or a recovering broader cryptocurrency market.

Current market performance

At the time of writing, LINK was trading at $20.40, reflecting a 3.39% increase over the last 24 hours. The 24-hour trading volume stood at approximately $496 million, indicating robust market activity and heightened trader interest.

LINK has been consolidating within a range of $19 to $25 over the past week. Despite this recovery, the coin remains 61.55% below its all-time high of $52.99, achieved in May 2021.

This gap presents potential for further upside, particularly as fundamental indicators show growth.

Chainlink’s resilience in holding above the $20 mark reinforces its position as a major player in the cryptocurrency market, appealing to long-term investors.

LINK’s price analysis

Chainlink’s recent price performance suggests consolidation, with fluctuations between $19 and $25. This range-bound movement implies traders are anticipating a decisive breakout. 

The recent whale activity could act as a catalyst for upward momentum, as significant accumulation often precedes price surges.

From a technical perspective, LINK’s price has maintained support at $19.15, signaling strong buying interest at this threshold. If buying m

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Author: Clinton Otieno