Chainlink Stays Steady Amid $25M Whale Activity – Will the Bulls Drive LINK to $18?

Chainlink price holds firm despite $25M whale inflow — Is momentum returning?

Chainlink (LINK) is currently experiencing a consolidation phase, holding strong despite significant whale inflows. This situation reflects investor confidence and potential for price growth as the market dynamics shift.

Key Takeaways

Chainlink is showing sustained accumulation in the $16.40–$18.77 range, indicating that buyers are effectively countering whale-driven selling pressure.
There is an increasing confidence among investors, suggesting a likelihood of a breakout as the supply tightens.
Although there was a notable $25.6 million transfer to Coinbase that raised concerns about selling pressure, LINK's price has remained stable in its consolidation channel.
The token successfully defended the $16.40 support level, showcasing resilience and underlying market strength.

Chainlink’s Consolidation Indicates Steady Accumulation

Chainlink is currently consolidating between $16.40 and $18.77, which signals a more mature price structure rather than a loss of strength. Despite recent whale movements to Coinbase, LINK's price has shown remarkable stability, indicating that selling pressures are being effectively absorbed through ongoing accumulation.

At the time of writing, the Relative Strength Index (RSI) was around 42, suggesting that LINK is in a balanced state, neither overbought nor oversold. Additionally, consistent rebounds from the lower limit confirm that traders are actively protecting the support level. This behavior, characterized by reduced volatility after periods of heavy selling, frequently precedes a breakout. Thus, LINK's sideways price action showcases a solid accumulation effort and confidence among its holders.

Source: TradingView

Exchange Reserves Decrease as Outflows Outpace Whale Transfers

As of now, Chainlink's exchange reserves have decreased by 6.38%, totaling $2.52 billion. This suggests that fewer tokens are left available for instant selling. Despite the visible whale inflows, a notable portion of LINK is being transferred off exchanges into private wallets.

This trend indicates that investors are increasingly confident, aiming for higher future prices rather than seeking immediate profits. Historically, a decline in exchange reserves corresponds with a reduction in market supply, which can help stabilize prices and protect against large sell-offs. Furthermore, the decrease in reserves amidst whale activity underscores a deeper accumulation trend, reinforcing investor confidence despite short-term price fluctuations.

Source: CryptoQuant

Bullish Sentiment Strengthens in Derivatives Market

The behavior in Chainlink's derivatives market presents a different angle compared to the spot market trends. The Futures Taker Cumulative Volume Delta indicates a clear dominance of buying activity, showing that leveraged traders are building long positions in anticipation of a bullish breakout.

This shift suggests that institutional and experienced traders expect LINK’s current consolidation to eventually lead to a price increase. Additionally, rising Open Interest in Futures points to increasing speculative confidence regarding the upside potential. A decrease in short liquidations also implies that bearish traders are starting to back off. Collectively, these factors suggest that derivatives traders are strategically positioning themselves for an anticipated reversal, aiming for potential gains as LINK attempts to regain its momentum.

Source: CryptoQuant

Are Whales Losing Influence as Chainlink Gains Strength?

Chainlink's recent performance indicates that broader market dynamics are diminishing whale-driven volatility through strategic accumulation. The consistent defense of the $16.40 support level, coupled with declining reserves and bullish activity in futures, points to emerging strength in the market.

Even while significant transfers to Coinbase have historically caused concern, LINK's continued stability suggests that the market is increasingly resilient against selling pressures. If the upwards momentum remains above $17, a breakout beyond $18.77 could signal the start of a new bullish phase for Chainlink.