Chainlink (LINK) has recently surged above the critical $13 mark, marking a 35% gain and igniting optimism among analysts and investors. The cryptocurrency faced resistance at this level since July, but market sentiment now appears more bullish.
Data from Santiment shows that LINK whale activity has reached a three-month high, with large holders accumulating significant quantities of the cryptocurrency. This behavior suggests major investors are confident in Chainlink's future potential, predicting a sustained rally.
Chainlink recently broke above $13.65 for the first time since July, indicating a shift in price action. With a 200-day moving average breach at $12.9, LINK’s bullish outlook strengthens, crucial for continuing the uptrend.
Traders are monitoring the next significant supply zone at $14.5, where the token may face resistance. If LINK surpasses this level, it could see even higher gains as whale activity and market sentiment support further price increases.
