- Chainlink’s price setup signals $47.154 as a magnet level, where liquidity clusters, potentially unlocking rapid acceleration toward higher resistance zones.
- Whale investors accumulated nearly 2 million LINK within 48 hours, signaling confidence and tightening supply as exchange balances continue declining sharply.
- Adoption of Chainlink’s CCIP across banking, real-world assets, and gaming, coupled with staking v0.2, is steadily reducing circulating supply.
Chainlink ($LINK) is showing renewed strength as analysts point to $47.154 as a key level that could unlock further upside. With the token trading near $24, the potential for a breakout has placed attention on whether $88.264 could follow.
$47.154 Seen as the Immediate Magnet
Technical analyst Javon Marks explained that $47.154 may act as a price magnet for Chainlink, representing almost a 90% increase from current levels. He identified this zone as structural resistance, dating back to early 2022, where liquidity is expected to cluster.
The setup suggests that if LINK can sustain movement between $30 and $35, the climb toward $47 could accelerate quickly. This is due to the thin historical trading volume between these zones, making upward moves easier when momentum builds.
Marks added that if LINK convincingly breaks above $47.154, the path to $88.264 becomes more realistic. That level, over 255% away from the current price, would represent a new cycle high should broader market conditions remain favorable.
Whale Accumulation Strengthens Outlook
Large holders are reinforcing the bullish narrative. According to market analyst Ali, whales acquired nearly 2 million LINK in just 48 hours, reflecting strong conviction among major investors. Such accumulation often indicates preparation for potential rallies.
This buying activity comes at a time when LINK’s exchange balances are steadily decreasing. Fewer tokens available on exchanges usually reduce selling pressure, which can help fuel upward momentum when demand rises.
With whales adding to their positions while supply on trading platforms contracts, analysts are closely watching whether this activity supports a rapid move toward the $47 target.
Supply Squeeze and Adoption Trends
Analyst Degen Sing noted that LINK appears undervalued given the tightening supply conditions. Exchange balances are at their lowest since 2022, suggesting holders are opting for long-term positions rather than short-term selling.
At the same time, staking v0.2 continues to lock more LINK out of circulation, creating an additional supply squeeze. This complements the growth of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which is gaining adoption across banking, real-world assets, and gaming.
Analysts set two clear targets: $47.15 as the first key level and $88.26 as the next expansion target. He added that a decisive breakout over $47 with conviction could set the stage for one of LINK’s strongest rallies to date.
