Token

Shift

Million

Chainlink

<img width="1280" height="720" src="https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1.jpeg" class="attachment-full size-full wp-post-image" alt="Chainlink (LINK)" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1.jpeg 1280w, https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1-1224x689.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1-768x432.jpeg 768w, https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1-678x381.jpeg 678w, https://coingape.com/wp-content/uploads/2023/12/Chainlink-Cryptocurrency-1-150x84.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
Chainlink Price Prediction: Outperforming the broader market consolidation, <a href="https://coingape.com/markets/whats-next-chainlink-link-price-after-30-surge/">Chainlink (LINK)</a> has emerged as a standout performer among the leading cryptocurrencies. The coin price soared from $13.67 to $19.7 in just two weeks, marking a 44% increase. This surge has successfully pierced a key resistance level of a long-coming chart pattern, suggesting that the coin’s recovery may be in its initial stages. 
Also Read: <a href="https://coingape.com/chainlink-link-price-shoots-17-dominating-altcoin-rally-next-target-25/">Chainlink (LINK) Price Shoots 17% Dominating Altcoin Rally, Next Target $25</a> 
<h2 id="strong-link-price-escapes-a-22-month-accumulation-strong">LINK Price Escapes a 22-Month Accumulation</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The cup and handle pattern leads the current recovery trend in the LINK price</li> 
 <li style="font-weight: 400;" aria-level="1">The high momentum rally in Chainlink price may witness occasional pullback to 20-day EMA</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the LINK coin is $1,09 Billion, indicating a 95.96% gain.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/s/SmD97hAN.png" alt="Chainlink Price Prediction| " width="1946" height="937">
 <figcaption class="wp-caption-text">
 Chainlink Price Prediction| TradingView Chart
 </figcaption>
</figure> 
Over the last quarter, the <a href="https://coingape.com/price/chainlink/">Chainlink price</a> has been locked in a lateral movement, finding it challenging to maintain a foothold above the pivotal $17.5 resistance level. Initially, this sideways trend cast a shadow of doubt among investors, but a broader examination of the long-term chart reveals the emergence of a cup and handle formation.&nbsp; 
During the evolution of this pattern, the ongoing consolidation phase is typically recognized as a period that rejuvenates the previously waning bullish momentum, leading up to a significant bullish thrust.&nbsp; 
On February 2nd, the asset’s value surged past the neckline resistance of the pattern at $17.5, hinting at the commencement of a trend reversal. The 8% surge in the day’s value that followed acts as a confirmation of buyers’ stance and setting the stage for an extended recovery. 
<h2 id="b-over-2-million-in-link-withdrawn-in-a-strategic-shift-b">Over $2 Million in $LINK Withdrawn in a Strategic Shift</h2> 
According to Lookonchain, a respected on-chain data tracker, there’s been a significant movement of <a href="https://coingape.com/19m-chainlink-tokens-unlocked-and-move-to-binance-link-price-volatility-soon/?utm_source=sidebartabnews">$LINK tokens</a>. Specifically, within the span of just one hour, four new wallets have moved a staggering total of 119,583 $LINK, valued at approximately $2.15 million, away from the Binance exchange.&nbsp; 
This activity could signal a bullish sentiment among large-scale investors towards Chainlink, suggesting they see potential value in accumulating $LINK at current levels. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 It seems that a whale/institution is accumulating <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>! 
 We noticed 4 fresh wallets withdrew a total of 119,583 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>($2.15M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> in the past 1 hour.<a href="https://t.co/G09rO9rlwN">https://t.co/G09rO9rlwN</a><a href="https://t.co/Bby3SaN7cm">https://t.co/Bby3SaN7cm</a><a href="https://t.co/0NowecVP2a">https://t.co/0NowecVP2a</a><a href="https://t.co/dVX9K2CNeK">https://t.co/dVX9K2CNeK</a> <a href="https://t.co/KJsY0w7F5W">pic.twitter.com/KJsY0w7F5W</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1754332132095427026?ref_src=twsrc%5Etfw">February 5, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Thus, under the influence of the bullish chart pattern and whale accumulation, the LINK price can chase potential targets of $24.28, followed by $30.7. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Experimental Moving Average: An uptick in the daily EMAs(20, 50, 100, and 200) indicates the aggressive buying trend in the market.</li> 
 <li style="font-weight: 400;" aria-level="1">ADX: The rising ADX slope at 21% indicates that there is potential for the bullish trend to continue and gain strength.</li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/markets/2-best-altcoins-to-buy-today-link-and-lunc/">2 Best Altcoins To Buy Today: LINK And LUNC</a></li> 
 <li><a href="https://coingape.com/blog/link-price-top-reasons-behind-chainlink-price-impressive-rally/">LINK Price: Top Reasons Behind Chainlink Price Impressive Rally?</a></li> 
 <li><a href="https://coingape.com/sponsored/chainlink-price-hits-24-month-high-new-mining-token-also-surging/">Chainlink Price Hits 24-Month High, New Mining Token Also Surging</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/chainlink-price-prediction-whales-buying-spree-30-sight/">Chainlink Price Prediction As Whales’ Buying Spree Signals $30 Target in Sight</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Chainlink Price Prediction As Whales’ Buying Spree Signals $30 Target in Sight

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