Key Takeaways 

How much LINK are whales accumulating?

They withdrew $2.2 million in 24 hours, continuing a five-month $24 million buildup signaling long-term conviction.

What levels could Chainlink traders watch next?

If LINK holds above $18, it may test $23 and $26 amid improving on-chain and Futures sentiment.

Chainlink [LINK] whales accelerated their accumulation by withdrawing more than 128,000 LINK, worth about $2.2 million, from OKX and Kraken within the last 24 hours.

This continued a five-month trend totaling roughly 1.4 million LINK ($24 million) in accumulation, suggesting rising institutional confidence.

The steady transfer of tokens from exchanges to self-custody indicated declining selling pressure and a preference for long-term holding.

Coupled with improving derivatives sentiment, these inflows pointed to the early stage of a structural recovery that could shape LINK’s next major cycle.

Can Chainlink maintain its rebound from the demand zone?

LINK rebounded from the $16.00–$16.50 demand zone after a month-long correction.

The TradingView chart below showed a breakout from the descending channel, and buyers were now establishing higher lows.

If momentum continued, resistance levels stood at $20.02, $23.75, and $26.06.

The defense of the demand zone suggested traders viewed it as a fair value region, reinforcing the renewed optimism within the Chainlink ecosystem.

On top of that, derivatives data echoed the Spot market’s strength.

Futures traders show stronger bullish conviction

The 90-day Futures Taker CVD indicated Taker Buy dominance, meaning aggressive buyers outweighed sellers. Futures traders were positioning for upside rather than further declines.

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Author: Evans Boto