Chainlink (LINK) is making waves in the crypto market, surging 3.53% as whale accumulation and trading volume build at the critical $20 support level. Could this be the start of a major bullish breakout?
Chainlink Retests $20 Support: A Make-or-Break Moment
After a recent market correction, LINK has found strong support at $20. The token rebounded from a low of $12.20 to $20.28 before facing resistance. Currently trading at $19.53, this 3.53% gain signals renewed buying interest. Analysts suggest that holding above $20 could pave the way for higher price targets.
Whale Activity Intensifies Around Chainlink
Large investors have been accumulating LINK aggressively:
- Over 1.6 million LINK tokens bought in two weeks
- Top 10 wallets now control 32% of circulating supply
- Futures trading volume exceeded 53 million tokens in 24 hours
What’s Next for LINK Price?
Key levels to watch:
| Support | Resistance |
|---|---|
| $20 | $22 |
| $18 | $28 |
If LINK maintains $20 support with strong volume, analysts predict a move toward $22, with $28 as the next major target. The combination of whale accumulation and rising trading volume creates a potentially explosive setup.
Frequently Asked Questions
Why is $20 important for Chainlink?
$20 represents a key psychological and technical support level that could determine LINK’s near-term price direction.
How significant is the whale accumulation?
The rapid accumulation by large holders suggests strong confidence in LINK’s future price appreciation.
What trading volume indicates about LINK?
High volume at support levels typically signals strong buyer interest and potential for upward movement.
Could LINK reach $28 soon?
While possible, LINK would need to break through $22 resistance first and maintain bullish momentum.
