Big players in crypto are loading up on Chainlink. Recent price moves hint at a rally coming soon. Spot On Chain reports a whale just spent 7.1 million USDC buying 506,226 LINK tokens. The average price was $14.03, and the whole buying spree took just 30 minutes.

This investor sold 1,108.83 ETH for 2.1 million USDC. They also pulled another 5 million USDC from Spark to fund the purchase. Right now, their LINK position shows a small loss of about $194,000. But the size of the buy suggests they expect much higher prices soon.

This whale spent 7.1M $USDC to buy 506,226 $LINK at an average price of $14.03 in the past 30 minutes!

It sold 1,108.83 $ETH for 2.1M $USDC and withdrew another 5M $USDC from #Spark for the purchases.

Its $LINK long position currently has an unrealized loss of $194K. https://t.co/jP8gyy49KR pic.twitter.com/CCmCsP4R8u

Spot On Chain also spotted the infamous “50x ETH” whale making moves on LINK. This is the same trader who previously cost Hyperliquid $4 million.

The whale deposited 2.875 million USDC to Hyperliquid. They used this to open a long position on LINK with 10x leverage. Since February 7, this trader has made $16.4 million by flipping between long and short positions on ETH, BTC, HYPE, and YGG. Many are watching to see if their LINK bet pays off too.

The weekly chart from Binance shows several bullish signals for LINK price. These align with the recent whale activity.

LINK has respected a rising trendline since its launch. This line provides strong support around $9-$10. Recently, LINK broke through a downtrend line that had capped prices since the 2021 peak. After the breakout, price retested lower levels and bounced, forming a green hammer candle. This is a classic bullish sign.

Strong support for the LINK token sits at the $9-$10 trendline. More support comes from moving averages between $11-$14.

The first major resistance is around $20-$22. Beyond that, the $34-$38 range marks the previous cycle high. If the rally really takes off, Chainlink price could target $50-$53, near its all-time highs.

The weekly RSI has broken its downtrend and approaches the 50-55 range. This shows growing strength for LINK. Volume spikes suggest whales are accumulating the Chainlink token. The MACD is trending up, signaling continued momentum.

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If LINK holds above $15-$16, we’ll likely see a push toward $20-$22. Breaking above $22 could trigger a run to $34-$38. In the most bullish case, LINK could reach $50+.

But caution is needed. If price drops below the trendline ($10-$11), LINK could fall to $7-$9.

Overall, both charts and whale activity point to upside for Chainlink. LINK whales are betting big, and multiple technical signals align. Keep an eye on volume, RSI strength, and how price reacts at $15-$16 to confirm if this rally is the real deal.

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The post Whales Accumulating and Betting Big on Chainlink (LINK) as Price Action Signals Upcoming Rally appeared first on CaptainAltcoin.

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