Chainlink rallies as whale supply and White House positioning test LINK's breakout momentum.
During the past week, bitcoin tumbled from over $65,000 to close just above $63,200, an approximately 3.2% weekly loss and briefly hit a low below $62,500 on Aug. 14. Bitcoin Leads Mid-August Market Pullback After finishing the first week of August with modest gains, the cryptocurrency market ended the second week in the red.
A major Chainlink (LINK) investor ended a 30-day accumulation period and transferred a batch of 984,550 tokens to the U.S. exchange Coinbase. The whale's move interrupted a quiet phase in the market and sparked concerns among crypto market participants about a possible sell-off.
Chainlink surged 5.20% to $9.49, leading the day's gainers, while Pi Network dropped 3.20% to $0.0871.
Chainlink price reaches $9.47 as volume doubles, while analysts favor entries below $9.20 and $8.60 before a move toward $11.
Nillion's integration with Chainlink's CCIP enhances token liquidity and trading opportunities, potentially boosting its market presence and adoption. Nillion rises 22% following integration of Chainlink's CCIP.
Although momentum has remained weak as the broader crypto market continues to struggle amid persisting volatility, Chainlink has managed to retain investors' confidence even amid such negative market conditions.
The Chainlink (LINK) price has finally broken out of the consolidation structure that had been developing since June. After recovering from lows near $7, LINK pushed above the $9.04 resistance and is now trading around $9.45, marking a clear shift in its short-term technical structure.
Despite poor returns, steady inflows into the Bitwise Chainlink ETF highlight investor confidence in regulated crypto exposure options. Bitwise Chainlink ETF pulls in $1.5M in weekly inflows despite brutal returns since launch.
Chainlink price rose 10% this week as an analyst's MVRV golden cross signal pointed to a possible 30% rally.
MVRV, whale activity and network usage strengthen as LINK tests a key technical level.
On Monday, Standard Chartered announced coverage initiation for Chainlink (LINK), establishing a $200 valuation objective for 2030. The financial institution's roadmap anticipates LINK reaching $13 by late 2026, advancing to $82 in 2028, and climbing to $133 throughout 2029.