The Chainlink Reserve has already accumulated 65,550 LINK worth 1.4 million at an average price of $16.83, gradually depleting the supply in the open market. Scarcity is often a consequence of lower availability and has been the cause of price increases in the past when demand remains strong.
Long-term confidence in LINK's market potential is a testament to the solid strategy of the Reserve. Furthermore, these constant purchases can affect confidence and generate greater speculative interest.
The remaining tokens on exchange platforms could reach higher offers as liquidity decreases. Therefore, if accumulation continues, supply constraints could keep increasing, in line with bullish technical patterns, which would drive a strong rally.
Constant accumulation is increasing LINK's scarcity, creating the perfect environment for a rally. A breakout above $21.6 would likely trigger the projected trajectory towards $31.8, $52.3, and ultimately $98. With the alignment of technical momentum and supply constraints, the analyst's bullish outlook is well-founded and could materialize sooner than expected.