After months of quiet accumulation, Chainlink (LINK) is slowly taking center stage in the crypto market. While most altcoins remain in a sideways trend, LINK has quietly broken above $21.70, opening the door to a new bull run. A combination of strong technical signals, clear accumulation behavior from whales, declining exchange liquidity, and a positive macro backdrop could be the catalyst for LINK to enter a multi-stage bull run — with an ultimate target of $95, according to on-chain analyst Ali Martinez.
Technical Picture: 3-Year Long Symmetrical Triangle Pattern
From a technical perspective, LINK is trading inside a symmetrical triangle that has been forming since early 2021. This is a classic chart pattern that typically appears after long-term uptrends and signals a period of consolidation before the price continues to break out. The upper edge of the triangle is currently located around the $24 region — acting as a key resistance level that, if broken, could trigger a strong and prolonged uptrend.
Currently, LINK has broken above the 200-day EMA, and is holding above the dynamic support around $21.15–$21.7, indicating that buying power is overwhelming in the accumulation zone. The convergence of long-term technical resistance and positive on-chain factors is creating a “compressed spring” situation — just waiting for a breakout to unleash the momentum accumulated over 3 years.
Whales and Institutional Accumulation: Is a Swoop Building?
On-chain data from Santiment and Lookonchain shows that whales have been actively accumulating LINK over the past few weeks. Specifically:
Since the beginning of August, the number of wallets holding between 100,000 and 1 million LINK has increased by 4.2%.
This equates to 4.55 million LINK (~$97 million) purchased and held.
LINK reserves on exchanges have dropped by 33 million tokens since July — indicating a sharp decline in potential selling pressure and a tightening of circulating supply.
In addition to individual investors, institutions are also showing signs of jumping in. The Chainlink Reserve Fund, a holding fund backed by the platform itself, purchased an additional 65,550 LINK (worth about $1.4 million) at an average price of just $16.83. Notably, the investment was deployed using a corporate treasury model — similar to how Strategy holds Bitcoin — signaling a long-term belief in LINK’s intrinsic value.
Liquidity Shrinks: FOMO Effect Ready to Explode
As the supply on the exchange continues to decrease, a liquidity crunch begins to form – and that’s the perfect environment for a massive FOMO to occur as prices break out. Historically, periods of tight liquidity have often led to spikes in prices as demand outstrips supply in the short term.
Additionally, the open interest (OI) volume in the derivatives market increased by 27% to $1.06 billion, indicating that large traders are increasing their long positions and betting heavily on LINK's upside. The parallel rise in derivatives positions and a decrease in spot supply is often a recipe for a short squeeze or a strong breakout.
Macro Support: Boost from New 401(k) Policy
Adding fuel to the fire is an emerging macro factor: Donald Trump’s recent executive order paves the way for cryptocurrencies to be included in 401(k) retirement accounts in the U.S. This is a landmark change, as pension funds are home to trillions of dollars in assets and typically have a long-term horizon.
Access to this capital flow not only adds legitimacy to LINK and other crypto assets, but also provides steady and consistent buying pressure, which should strengthen the long-term bullish trend. Given Chainlink’s role as a hub for decentralized oracle services — which are crucial in both DeFi and enterprise solutions — this policy move could significantly increase demand for LINK.
Price Roadmap: From $24 to $95 — but not overnight
According to Ali Martinez’s analysis, if LINK breaks above the resistance level around $24, the market could see a distinct three-stage bull run:
Phase 1: Rise to $31.8 area
Phase 2: Towards $52.3
Phase 3: Aiming for $95 – the triple-digit mark that the LINK community has long been waiting for.
However, Martinez also noted that each growth phase may be accompanied by technical corrections or re-accumulations, allowing the next wave of demand to enter the market. Instead of a vertical surge, this cycle may be more structured and sustainable – corresponding to the maturity of the crypto market as a whole.
Now, all the key factors seem to be converging for a major turnaround for Chainlink. Technically, a three-year-old symmetrical triangle pattern is coming to an end — signaling a potential breakout as price breaks out of a key resistance zone. Meanwhile, on-chain data shows whales are actively accumulating, while the amount of LINK circulating on exchanges continues to decline, increasing the liquidity crunch in the spot market. In addition, derivatives volumes are also surging, reflecting clear bullish expectations from professional traders. Finally, macro factors are also playing a major supporting role: the policy of opening crypto to US pension plans could be a catalyst for LINK to access potential long-term capital. With all these factors pointing in the same direction, Chainlink is facing a rare opportunity to break out of the accumulation zone and enter a historic growth cycle.
If LINK can decisively break the $24 zone, it is likely that the market will see the beginning of a long-term growth cycle, ending the sideways period that has lasted since 2021. In a market that is hungry for clear investment stories and solid fundamentals, Chainlink could be the “undercover” that becomes the shining star of the upcoming altcoin season.
