Chainlink (LINK) is poised for a potential rally towards $30 as it consolidates within a symmetrical triangle pattern, currently trading near $23. Analysts indicate that breaking the $25 resistance could drive LINK higher, bolstered by significant whale accumulation. On-chain data reveals that whales have acquired 2 million LINK, while exchange balances are at their lowest since 2022, suggesting a possible supply squeeze.
The bullish sentiment is further supported by Chainlink's expanding ecosystem, marked by partnerships with Polymarket and DualMint. Technical analysis points to key Fibonacci retracement levels, with projections reaching up to $31.30 if the $25 resistance is surpassed. As of the latest update, LINK is trading at $23.53, experiencing a weekly decline of nearly 6%.
Chainlink Targets $30 Amid Whale Accumulation and Ecosystem Growth
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