Chainlink

FOMO

Chainlink price continued its strong uptrend as it rose for three consecutive weeks, reaching its highest level since January 2022. 
Chainlink (<a rel="" href="https://crypto.news/price/chainlink/">LINK</a>), the biggest oracle network in the blockchain industry, rose to a high of $26.40, pushing its market cap to over $16 billion. 
The rally coincided with the ongoing accumulation by whales. 
In an X post, <a href="https://x.com/lookonchain/status/1865607821120897347" target="_blank" rel="nofollow">Lookonchain</a> identified one whale who moved LINK coins worth over $9.6 million from Binance and moved them to AAVE (AAVE). The investor then borrowed 4 million and deposited to Binance, possibly to buy more LINK.&nbsp; 
According <a href="https://etherscan.io/tx/0x8e43b407aec4103fd0a67237b90cb077cdba3c4cda063dad2c60be342cec205f" target="_blank" rel="nofollow">to Etherscan</a>, another whale moved Chainlink coins worth $7.16 million from Coinbase to a self-custody wallet. Another whale moved LINK tokens worth over $2 million to OKX. 
 You might also like: <a rel="" href="https://crypto.news/trumps-world-liberty-financial-taps-chainlink-for-offchain-data/"> Trump’s World Liberty Financial taps Chainlink for offchain data </a> 
Whale accumulation is often seen as a good catalyst for cryptocurrency because of the volume of their transactions. Altogether, Nansen data shows that the number of Chainlink coins on exchanges stood at over 253.4 million, a few points lower than last week.&nbsp; 
Meanwhile, according to Santiment, the ongoing LINK surge happened with very little fear of missing out. As such, the crypto analytics firm expects that the coin will continue rising. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 https://twitter.com/santimentfeed/status/1865174541825192231 
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<h2 class="wp-block-heading" id="chainlink-price-flips-key-resistance-level">Chainlink price flips key resistance level</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/12/Chainlink-price-1.png" alt="Chainlink price" class="wp-image-14317291">
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 Chainlink price chart | Source: <a href="https://crypto.news/price/chainlink/" target="_blank">crypto.news</a>
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The weekly chart shows that the LINK price made a strong recovery in the past few weeks. It has now flipped the key resistance level at $22.85 into support as this rally accelerated. That was an important price because it was the highest swing on March 11. 
Chainlink price has moved to the 50% Fibonacci Retracement level and also flipped the ultimate resistance of the Murrey Math Lines tool. It remains above the 50-week and 100-week moving averages. 
Therefore, the immediate short-term target for the LINK price will be at $31.25, the extreme overshoot of the Murrey Math Lines. In the long term, the coin may double and retest the all-time high of $52.&nbsp; 
The bullish view will become invalid if the price drops below the key support at $22.85. A drop below that level could see it fall below $20. 
 Read more: <a rel="" href="https://crypto.news/chainlink-price-prediction/"> Chainlink price prediction: Is it time for the oracle to shine? </a>

Chainlink price reaches highest level in years as whale moves $9.6m worth to Aave

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