Chainlink

<p>On December 12, 2024, Chainlink (LINK) seems to be in the eyes of both whales and institutions, leading to a notable price surge in the past 24 hours. According to a whale transaction tracker on X (formerly Twitter), significant accumulation has been reported, ranging from wallet-linked Trump to whales.</p>  
<h2 class="wp-block-heading" id="h-whales-and-institutions-rising-interest-in-link-nbsp"><strong>Whales and Institutions Rising Interest in LINK&nbsp;</strong></h2>  
<p>During the Asian trading hours, <a href="https://x.com/EyeOnChain/status/1867057819591303560" target="_blank" rel="noopener noreferrer nofollow">Eyesonchain</a>, a blockchain-based transaction tracker made a post on X that Trump’s World Liberty Financial acquired a significant 41,335 LINK, worth $1 million. This notable purchase was made at an average price of $24.19.</p>  
<p>Additionally, another blockchain-based transaction tracker <a href="https://x.com/lookonchain/status/1867133609842532643" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a> made a post on X that a whale had invested a substantial 1,263 ETH worth $4.95 million to acquire 175,424 LINK tokens at an average price of $28.18 level.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-chainlink-link-open-interest-reaches-all-time-high"><strong>Chainlink (LINK) Open Interest Reaches All-Time High</strong></h2>  
<p>These two substantial acquisitions in less than 12 hours have gained widespread attention from the crypto community, resulting in a record jump in price and future open interest (OI).</p>  
<p>According to the on-chain analytics firm <a href="https://x.com/glassnode/status/1867208654333649054" target="_blank" rel="noopener noreferrer nofollow">Glassnode</a>, LINK’s price has jumped to its highest level in the past two years, while its future OI has reached an all-time high of $770.27 million.</p>  
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/12211448/Gemm6GeXQAAQGt6.jpeg" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/12211448/Gemm6GeXQAAQGt6.jpeg" alt="Chainlink (LINK) Open Interest" class="wp-image-392475" style="width: 100%;height:auto"></a>
 <figcaption class="wp-element-caption">
  Source: Glassnode
 </figcaption>
</figure>  
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>  
<p>Currently, LINK is trading near $28.23 and has registered a price surge of over 18.5% in the past 24 hours. During the same period, its trading volume jumped by 65%, indicating heightened participation from traders and investors amid ongoing whales and institutions participation.</p>  
<h2 class="wp-block-heading" id="h-chainlink-link-technical-analysis-and-upcoming-levels"><strong>Chainlink (LINK) Technical Analysis and Upcoming Levels</strong></h2>  
<p>According to expert technical analysis, LINK is currently facing strong resistance near $29 and is attempting to breach this level. With significant institutional interest, crypto whales, and trader confidence, there is a strong possibility it could break through this level in the coming days.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/12211711/LINKUSDT_2024-12-12_21-17-00.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/12211711/LINKUSDT_2024-12-12_21-17-00-1024x448.png" alt="Chainlink (LINK) Technical Analysis" class="wp-image-392477"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>Based on the recent price action, if LINK breaches this level and closes a candle above $29.50, there is a strong possibility it could initially soar by 20% to reach the next resistance level of $35, and later surge by 80% to reach the $52.50 level, which is its all-time high.</p>  
<p>However, traders and investors need to understand that LINK has significantly stretched on both the weekly and daily time frames. There is also a possibility of a price correction during the upcoming rally, which could provide support for LINK in its bull run.</p>

Time to Buy LINK? Chainlink Open Interest Soars to All-Time High

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