Chainlink (LINK) Price: Whales Buy 2.5 Million Tokens in 10 Days

TLDR

• Whales bought more than 2.50 million LINK over the past 10 days, according to analyst Ali Charts.
• Nearly 1,500 new LINK addresses are being created each day.
• LINK is trading between $14.33 and $14.50, below resistance at $16 and $17.70.
• About 16.9 million LINK was previously bought near $16, and 22.7 million near $17.70.
• Analyst Giannis Andreou sees a large W pattern on the higher timeframe that points toward $52.

Chainlink (LINK) is trading between $14.33 and $14.50 as large holders keep buying the token. On-chain data also shows steady growth in new addresses on the network.

Traders are now watching two resistance levels above the current price. A longer-term chart pattern is also drawing attention from analysts.

Crypto analyst Ali Charts said in a post on X that whales bought more than 2.50 million LINK over the past 10 days. He linked the buying to sustained demand for the token.

The accumulation took place while LINK faced overhead resistance. Large-holder purchases alone do not confirm that a lasting rally will follow.

New Addresses Keep Growing

In a separate post on X, Ali Charts reported that nearly 1,500 new LINK addresses are being created each day. He tied this growth to wider adoption of the network.

Address data needs careful reading. One user, exchange, or automated system can control many addresses, so new addresses do not equal new people.

Ali Charts also pointed to price zones where large amounts of LINK were bought in the past. These areas often act as resistance when the price returns to them.

The first zone sits near $16, where about 16.9 million LINK was previously purchased. A second zone sits near $17.70, where roughly 22.7 million LINK was accumulated.

LINK remains below both levels. Its near-term path depends on whether it can hold its recent recovery and push toward $16.

Chainlink Price on CoinGecko

A move through resistance would change the technical picture. A rejection could keep the token in its current range.

Analyst Points to Long-Term W Pattern

Crypto analyst Giannis Andreou shared a chart on X showing a large W pattern on LINK’s higher timeframe. He described it as a possible long-term accumulation structure that could support a move toward $52.

Andreou’s view focuses on the broader trend rather than daily price swings. The $52 figure is a projection based on the pattern, not a current market result.

For the setup to play out, LINK would need to keep the structure intact. It would also need to break above the key resistance levels first.

Such a move may take time to develop. A sustained break above resistance would help confirm the pattern, according to the analysis.

Broader crypto market conditions and liquidity will also shape how demand for LINK plays out. Whale buying and network growth remain the main on-chain trends in focus.

As of September 27, LINK was trading between $14.33 and $14.50. The $16 level remains the first major resistance zone above the current price.

The post Chainlink (LINK) Price: Whales Buy 2.5 Million Tokens in 10 Days appeared first on Blockonomi.