The native Chainlink cryptocurrency LINK has been a favorite amongst crypto whales of late, with large investors purchasing approximately 800,000 coins. As LINK’s price dipped towards the $21 mark over the last few days, whales have gotten active, purchasing what they suspect to be LINK trading at a premium entry point. This could hint at further positive price action ahead, perhaps sending the Chainlink cryptocurrency surging in the coming week.
Currently trading at $21.58, LINK has fallen over 8% in the last week. Additionally, on-chain data from CryptoQuant places current active addresses at 5,800, with a price of around $21.8. Both metrics have fallen since late August, when active addresses reached nearly 8,000 and LINK traded above $26.
What Else Could Spark a LINK Rally?
The SEC’s September 18 rule change streamlined crypto ETP approvals, accelerating filings for Solana, Cardano, and Chainlink ETFs. While no LINK ETF is approved, there is still some potential behind the digital asset, something whales seemed to clock amid its price dipping. Should the first Chainlink LINK ETF see approval by the SEC soon, it could send LINK skyrocketing in value. The SEC has grown far more crypto-friendly in 2025, so an approval is imminent, according to many experts.
Furthermore, the $25 mark has served as resistance for LINK this month, and the altcoin is hoping recent developments could push it towards a rally past $25. A breach of that price could send LINK surging to $30 and even $40. Alternatively, Chainlink (LINK) price is believed to remain consolidated for a while, followed by a breakout, per other analysts. LINK’s trading volume has compressed to a large extent; hence, a slight change in the market sentiments may trigger a strong upswing. This change could come with the latest whale swoop, a catalyst that has sent many meme coins and altcoins higher in the past.
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Crypto bulls are currently in a standby mode regarding LINK price. Once its price rises above the resistance zone, Chainlink hitting $30 could be the next target. Another analyst on X, CryptoWzrd, notes that daily candles for LINK and LINKBTC closed bearish. “More healthy price action from LINKBTC is needed, as bullish candles are necessary to avoid a fake breakout,” the analyst wrote. Additionally, they identified $30 as resistance and $20 as key support. In the short term, maintaining levels above $22 may open a move toward $24, while rejection could see the price slide to $19.80.
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