Chainlink (LINK) price has signaled macro bullish continuation after rebounding from a crucial support level around $16 in the past few days. The large-cap altcoin, with a fully diluted valuation of about $18.8 billion, gained over 8% in the past 24 hours to trade at about $18.89 on Monday during the mid-North American session.
Chainlink price rebounded today, fueled by its reliable oracles compared to traditional data points. Notably, a DNS glitch in a single data center in Northern Virginia cascaded into global chaos as AWS powers about 32% of the cloud market.
On the other hand, the Chainlink oracles, which are decentralized, continued to operate smoothly across its partnerships.
Chainlink price has been forming a macro bullish pattern amid the highly anticipated altseason. According to crypto analyst Ali Martinez, the utility altcoin has been creating a macro triangular pattern, with a midterm target of its all-time high.
According to on-chain data analysis, whale investors have been on a shopping spree for LINK. For instance, on-chain data analysis from Lookonchain shows that 30 new wallets have withdrawn nearly 6.3 million LINK valued at about $117 million from Binance since the recent crypto market crash.
Market data analysis from The Data Nerd shows a whale withdrew 400k LINK, valued at around $7.3 million, from Binance today. The rising demand for LINK by whale investors has coincided with its high regulatory clarity, especially in the United States.
On Tuesday, Chainlink’s representatives will be among other crypto leaders invited to a conference hosted by the Federal Reserve.
Amid the highly anticipated altseason 2025, LINK price is expected to record an impressive performance. Already, LINK price, against Bitcoin, has formed a potential reversal pattern after being trapped in a multi-year falling trend.
According to market data analysis from Santiment, Chainlink price has already flashed a buy signal, based on the MVRV indicator.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ethereum (ETH) price has been attempting to rally beyond $4k without success in the past…
XRP price has signaled midterm strength as Bitcoin (BTC) rebounded above $110k on Monday. The…
Evernorth Holdings Inc., a new XRP-focused financial firm, has announced plans to go public through…
The XRP community is abuzz after Ripple strategist Max Avery reaffirmed that the XRP Ledger…
Big investors who sold Cardano (ADA) before its 70% plunge from all-time highs have turned…
Pepe and Dogecoin are two of the most iconic names in the meme coin world.…
