- Chainlink whale accumulation exceeds $24 million, signaling institutional confidence and renewed accumulation.
- The TD Sequential buy signal suggests potential short-term recovery as LINK stabilizes above support levels.
- Derivatives data confirms strong buy-side participation and on-chain whale inflows that support Chainlink’s developing bullish market structure.
Chainlink trades at $17.72 after a 8.44% gain this week. Growing whale accumulation and a new buy signal suggest traders are positioning for a potential short-term breakout.
TD Sequential flashes buy signal as structure stabilizes
Analyst Ali Charts noted that the TD Sequential indicator has flashed a buy signal on Chainlink (LINK). He suggested a short term bounce could occur.LINK is trading within a descending structure with smaller candle bodies and long wicks near $17.30 , a signal of indecision and exhaustion of selling pressure.
If the pattern holds, LINK could attempt a short-term reversal toward the $17.80–$18.20 possibly extending gains toward $20.00. Failure to hold above $17.00,risks a decline toward $16.50–$16.20.
An inverse head-and-shoulders pattern is forming which suggests that buyers are increasingly defending the $17.00–$17.50 region,and it is hinting at a potential shift in broader market sentiment as LINK approaches its neckline near $20.00.
Chainlink consolidates near $17 amid renewed whale accumulation
Chainlink (LINK) is consolidating above $17 after a modest rebound. Renewed whale accumulation brought back over 63,000 LINK tokens through the Chainlink Reserve. Data reflects balanced participation in both spot and derivatives markets.
The Chainlink Reserve now holds about 586,641 LINK tokens worth $10.2 million. Despite the buyback, retail participation remains subdued, with futures open interest near $654 million.Traders are avoiding leveraging positions amid uncertain short-term sentiment.
Technical indicators show LINKs immediate support near $17.00. A sustained move above $18.00 could confirm renewed bullish structure, targeting the $19.76 and $20.00 resistance zones if buying pressure persists.
Whale activity and derivatives data strengthen bullish case
Whales continue to accumulate LINK aggressively. Data shows one large holder added another $1 million in LINK, while another purchased $1.14 million, bringing total accumulation to roughly $24 million over five months. This steady withdrawal from exchanges to self-custody wallets indicates growing confidence and reduced selling pressure.
On-chain data confirms that more than 128,000 LINK, valued at $2.2 million, were withdrawn from OKX and Kraken in 24 hours. These outflows mark a continuation of long-term accumulation, reflecting rising conviction among high-value investors. When supply tightens and buying interest gradually builds.
The 90-day Taker Buy CVD shows strong buyer dominance, confirming that aggressive buyers currently outweigh sellers. Chainlink appears positioned to test $20 again — and potentially extend gains toward $23 to $26 if momentum sustains.
