Chainlink Eyes Breakout as Investors Accumulate
Key Takeaways
Chainlink (LINK) is showing signs of a potential price breakout. The cryptocurrency has been moving within a descending channel since Q4 2024. Technical indicators and on-chain data suggest that a rise to $30 USD is possible. The price trend is heavily influenced by Bitcoin (BTC).
Current Price Development
At the time of analysis, LINK was trading at $17.08 USD. Despite a slight decline, trading volume increased by 24.59% over the past 24 hours. The price movement shows a sequence of lower highs and lows, indicating consolidation within the descending channel.
According to Solberg Invest, LINK could attempt a breakout above the resistance level at $20 USD. If successful, this could trigger a rally toward $30 USD. However, a failed breakout could lead to another test of the support level at $12 USD.
On-Chain Data and Investor Behavior
Data from IntoTheBlock shows that LINK tokens worth $4 million USD were withdrawn from exchanges in the past week. This suggests accumulation by large investors. Additionally, 67% of LINK investors hold significant amounts of the token.
Currently, 54% of these investors are in profit. This could indicate a declining willingness to sell and a long-term belief in the asset. Furthermore, LINK’s weighted funding rate has recently turned positive, signaling a potential trend reversal.
Market Trends and Fundamentals
Beyond price movements, Chainlink’s fundamental utility also plays a crucial role. Chainlink’s blockchain technology is increasingly being used in decentralized finance (DeFi) and the tokenization of real-world assets (RWA).
You should read that too:
-
Best Casino Alternatives for 2025Reading time: ~ 2 minutes
-
Farm Slots – Play the Best Farm-Themed Slot Games
Reading time: ~ 2 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 2 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 2 minutes
-
High Volatility Slots
Reading time: ~ 2 minutes
According to CMC TLDR, Chainlink is currently working with U.S. authorities to develop regulatory-compliant smart contracts. These developments could strengthen long-term demand for LINK.
Another key factor is LINK’s high correlation with Bitcoin (0.92). This means that BTC price movements can have a significant impact on LINK’s price. Traders should therefore monitor Bitcoin’s performance alongside technical analysis.
Our Assessment
Chainlink is showing promising signs of a potential price breakout. The combination of rising demand, accumulation by large investors, and positive market trends could support a rally. However, its dependence on Bitcoin remains a risk factor.
A sustained breakout above $20 USD would be a strong signal for further growth. If this fails, a pullback to $12 USD could occur. Investors should closely monitor price developments and pay particular attention to the behavior of large investors.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 35x bonus |
| 60x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency