• Whale wallets aggressively accumulated LINK, signaling strong confidence before the recent price breakout.

  • LINK broke out of a descending channel, showing bullish momentum with clear support and resistance.

  • Chainlink Reserve and rising derivatives activity provide solid backing for sustained price gains.

Chainlink’s recent price jump grabbed attention fast. A 14% surge isn’t easy to ignore, especially when it feels backed by serious players. Whale wallets have started stacking LINK like its treasure, signaling big bets on a brighter future. This wave of accumulation hints at more than a short-lived rally—there’s confidence brewing beneath the surface, ready to push LINK higher. Let’s explore what’s fueling this momentum and why the Chainlink Reserve could be a game changer.

https://twitter.com/chainlink/status/1953441044617388514?t=AVoVrw_NOGu3ehrChPBshw&s=19 Whale Accumulation and Technical Breakout Fuel Momentum

Since early August, wallets holding between 100,000 and 1 million LINK tokens have surged. Twenty-seven new wallets joined this elite group, a 4.2% increase. Collectively, these whales added 0.67% of LINK’s total supply. This is the most aggressive buildup from large holders in months. The timing couldn’t be better. This accumulation coincided with LINK breaking past $18, a clear signal whales prepared ahead of the breakout. By press time, LINK traded at $19.34 after that eye-catching 14.18% daily jump. This bold move reflects growing trust among deep-pocketed investors who believe in LINK’s long-term potential.

On the technical side, Chainlink’s chart tells a powerful story. LINK broke free from a descending channel that boxed price action for months. More impressively, it retested the channel’s upper boundary as solid support, confirming bullish strength. Rising volume and an RSI near 63 add to the positive picture, showing momentum with room to grow. This breakout also erased previous lower highs, flipping market sentiment toward bulls. Immediate resistance sits near $27.10, while $16 now acts as solid short-term support. This setup offers clarity for traders looking for the next move, and right now, the bulls seem firmly in control.

Derivatives Activity and Chainlink Reserve Boost Confidence

Derivatives markets back LINK’s momentum strongly. Open Interest jumped nearly 27% to $1.06 billion, signaling more traders entering positions. Even more striking, trading volume soared over 270%, reaching $2.7 billion. These numbers show rapid and confident positioning without triggering heavy liquidations. Traders are calm but optimistic, fueling this rally.

Spot market data also supports this story. Average order sizes in the spot market are growing, pointing to large block trades and more whale involvement beyond just wallet activity. Institutional interest appears solid, reflecting conviction rather than fleeting speculation. A significant new catalyst is the Chainlink Reserve. Announced recently, this mechanism uses protocol revenue to buy LINK steadily.

The Reserve adds a fresh, protocol-level source of buying pressure, supporting LINK’s price over the long haul. This is no ordinary token buyback—it’s a fundamental upgrade designed to strengthen the ecosystem’s backbone. With whale accumulation, a clear technical breakout, rising derivatives activity, and the Reserve’s launch, LINK stands on sturdy ground.