Chainlink Price Eyes Recovery as Whales Accumulate 13 Million LINK
Highlights:
- The Chainlink price is trading at $17.40, as technical indicators show a recovery.
- Chainlink whales have accumulated over 13 million LINK in the previous week.
- The technical outlook shows potential rebound as the bearish momentum is easing.
Chainlink price is trading at $17.40, after having been rejected by the main resistance area the day before. On-chain metrics are a positive sign, with some of the whale wallets buying LINK tokens. Besides, the technical analysis indicates a recovery of the market since the momentum indicators indicate a reduction of bearish pressure.
Chainlink (LINK) has been receiving interest recently after the number of whale holders increased sharply. In the last week, 13 million LINK tokens have been added to the wallets of big investors. This indicates that big investors have been taking more interest in the project. This upward trend shows that whales are positioning themselves for a possible price increase.
13 million Chainlink $LINK accumulated by whales over the past week! pic.twitter.com/nS8okRqZrT
— Ali (@ali_charts) October 22, 2025
Meanwhile, the Supply Distribution data provided by Santiment is optimistic regarding the prospects of Chainlink since some whales are purchasing LINK at recent price discounts. The metric shows that the whales with 100,000 to 1 million (red line) and 10 million to 100 million LINK tokens (blue line) have earned 12.21 million LINK tokens from Friday through Wednesday. At the same time, wallets with 1 million to 10 million LINK tokens (yellow line) lost a total of 11.87 million tokens.
This demonstrates that the second group of whales might have succumbed to the capitulation incident. The former set of wallets, on the other hand, took the occasion and accrued Chainlink at a reduced price.
Chainlink Price Shows Potential Rebound as Bearish Momentum is Fading
The Chainlink price chart paints a bearish picture, as the LINK bulls are attempting to regain control. The 50-day Simple Moving Average (SMA) at $21.46 and the 200-day SMA at $17.63 are cushioning against further upside, tilting the odds towards the bears.
Meanwhile, the Cainlink price is attempting a recovery, as it has stabilized around $17.40 mark, from the recent lows at $14. With the whale accumulation of the LINK tokens, further upside above resistance zones could be plausible.
The Relative Strength Index (RSI) at 40.14 is showing neutral conditions. If the RSI surges above the 50 level, the bulls could regain control, painting the market bullish. Notably, the Moving Average Convergence Divergence (MACD) shows signs of a bearish crossover as the MACD line (blue) sits below the signal line (orange).
If the MACD line crosses above the signal line, it may indicate the beginning of a bullish momentum for the Chainlink price. Nevertheless, the volume spike of 15% supports the price action, indicating real interest from the market.
Looking ahead, if LINK holds above the $17.63 resistance, we could see it test the next barrier at $21. A cross above this level will keep the hype rolling towards $25 mark. On the other hand, if the resistance zones prove too strong, Chainlink price could consolidate or drop towards the $14 support. However, with this momentum, a quick rebound seems likely. In the mid-term, the recent whale accumulation could spark a substantial leg up towards $25-$30, with strong trading volume.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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