Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Chainlink whale transactions surge 344% as LINK eyes breakout above $10.77

Chainlink whale transactions surge 344% as LINK eyes breakout above $10.77

Cointurk2026/08/19 23:27
By: Cointurk
LINK+0.69%

Chainlink (LINK) is experiencing a notable uptick in bullish momentum, driven by a surge in whale accumulation and growing optimism among large investors. Recent price performance and technical positioning have further fueled speculation around a possible extension of Chainlink’s rally.

Large Investors Accelerate Chainlink Accumulation

New data reveals a sharp rise in major activity among Chainlink’s biggest holders. In the past 24 hours, transactions exceeding $1 million jumped 344%, with the number of whale transactions rising from nine to 40. This upswing in large trades is often seen as a sign that influential investors are positioning for continued upside.

Over the last week, large wallets accumulated more than 3 million LINK, effectively tightening supply on exchanges and highlighting ongoing confidence among whales.

Market analysts have suggested accumulation at this scale could signal that institutional and high-net-worth participants view the current levels as an attractive entry point, even after LINK’s recent performance.

Mini dictionary: Chainlink (LINK), launched in 2017, is a decentralized oracle network designed to connect smart contracts with external real-world data securely, making it a critical infrastructure component for DeFi applications across multiple blockchains.

ETH
SOL
BSC
ROBINHOOD
PAY
USDT
RECEIVE
AAPL

Technical Outlook: Key Resistance Levels in Focus

According to analysts following recent market action, Chainlink rallied more than 14% from a support zone identified in prior analysis. This rise is seen as the first step towards a previously projected 30% move upward. The technical setup now spotlights two pivotal levels: $9.78 and $10.77.

LINK’s position in the upper middle of its trading channel places significant attention on $9.78 as immediate resistance. A daily close above this threshold would help solidify bullish momentum and open a path towards the upper channel boundary near $10.77.

Support Resistance Target
$9.78 $10.77 $12.50, $14.40

A breakout past $10.77, according to analyst projections, could propel LINK to the next target zones at $12.50 and $14.40. Reaching these levels would represent a substantial continuation of the recovery move and complete the previously discussed 30% upside scenario.

If LINK fails to clear these resistance points, analysts expect the token could consolidate below $10 as traders assess near-term direction.

Muted Sentiment Despite Rising On-Chain Strength

While Chainlink’s price action and on-chain signals appear robust, overall social sentiment surrounding LINK remains subdued. This contrast suggests bullish participation may not yet be overcrowded, leaving room for additional buying if confidence spreads more broadly.

Market observers state that continued whale activity, acquisition in large volumes, and improving chart structure collectively indicate a strengthening recovery for Chainlink. The main test lies in breaking above the channel’s resistance and sustaining momentum in the face of cautious optimism.

Technical analysts point to $10.77 as the crucial breakout point which, if surpassed, would confirm buyers’ control and validate the recovery trend.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Rescuing US Treasuries in "Soros Style"! From currency controls to interest rates, can Bessent beat the market?

"Bassent, a 'Soros disciple,' once assisted Soros in shorting the British pound and the yen and is renowned for 'discovering cracks.' Now, he is using the same market intuition to shift from offense to defense, attempting to suppress U.S. Treasury yields. Since the start of this year, he has repeatedly intervened: collaborating with Japan to intervene in the yen, hinting at a reduction in long-term bond issuance, and announcing a doubling of long-term bond buyback scale—earning him the reputation of 'the most active finance minister in market intervention in decades.' However, critics argue that such intervention cannot solve the fundamental issue of fiscal deficits."

华尔街见闻2026/08/20 00:26

Trending news

More
1
Aave Horizon to onboard fixed-income fund from Neuberger Berman and Securitize
2
Rescuing US Treasuries in "Soros Style"! From currency controls to interest rates, can Bessent beat the market?

Crypto prices

More
Bitcoin
Bitcoin
BTC
$69,672.59
+7.81%
Ethereum
Ethereum
ETH
$2,262.37
+18.01%
Tether USDt
Tether USDt
USDT
$0.9994
+0.01%
USDC
USDC
USDC
$1.0000
-0.01%
XRP
XRP
XRP
$1.11
+11.03%
Solana
Solana
SOL
$85.62
+11.34%
TRON
TRON
TRX
$0.3345
+0.57%
Hyperliquid
Hyperliquid
HYPE
$69.87
+19.63%
Dogecoin
Dogecoin
DOGE
$0.07529
+7.46%
Zcash
Zcash
ZEC
$564.54
+11.58%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter