The price of Chainlink has shown resilience even after the recent drop, keeping attention on higher resistance levels. The current price of LINK, at $23.39, is just above immediate support, near $22.58.
However, a decisive close above $26 could unlock a move towards the $30 region, which historically limited previous rallies.
Beyond this threshold, the chart indicates a Fibonacci projection that aligns with the target of $46.85. Additionally, an analyst highlights an ambitious rally of 184% that could push LINK towards $79.
Such an increase would represent a parabolic phase, similar to historical break cycles. Therefore, maintaining momentum above $22 remains vital to confirm these bullish projections, reinforcing the strength of the long-term price prediction for LINK.
In the last 48 hours, whales have accumulated nearly 2 million LINK, reinforcing the conviction of a bullish continuation at the close of this edition. This large-scale acquisition reflects confidence in future valuations and aligns with breakout technical structures.
Furthermore, whale activity is often an indication of future expansions, making this development significant. Current entries into long-term wallets confirm growing interest among wealthy investors.
As a result, such accumulation increases the credibility of the projected breakout targets. Therefore, whale buying reinforces the bullish narrative surrounding the price trajectory of Chainlink.
Additionally, Chainlink announced that Polymarket will integrate its data standard into the resolution processes, enhancing real-time price accuracy. This collaboration, already active on Polygon, aims to drive secure prediction markets across all crypto assets.
With Polymarket's return to the U.S. market, the timely moment reinforces the relevance of this collaboration. Together, whale purchases and new integrations bolster the case for sustained bullish growth in the price of Chainlink.
In summary, the price of Chainlink is at a critical moment, as both whales and technical signals point upwards. The price of LINK, which remains above $23 while whales accumulate, reinforces the bullish outlook. Given that analysts forecast a parabolic increase of 184%, the bullish potential cannot be ignored. Therefore, the overall outlook supports continued optimism if support levels remain intact.
