Chainlink price hits $26 as whales swap millions in ETH for LINK, boosting bullish momentum toward a potential $27 breakout.
By Ibrahim Ajibade
Editor Kirsten Thijssen
Updated
3 mins read
Chainlink (LINK) led the weekend’s mega-gainers, rising 14.7% on Sunday to reach the $26 mark for the first time since February. The LINK price rally is closely linked to the network’s increasing institutional activity within the real-world asset tokenization sector, where Chainlink’s oracles remain dominant.
Last week’s landmark partnership with ICE, one of the world’s largest derivatives exchanges, will see Chainlink’s on-chain oracle feeds deployed to integrate forex and precious metals price data on-chain, reinforcing its key role in bridging traditional markets with decentralized finance.
From a monthly perspective, LINK has risen 73% from its August 3 low of $15 to $26 at press time, outperforming the broader crypto market despite volatility swings triggered by overheating US macro indicators and renewed trade policy uncertainty.
Despite the prolonged price rally, on-chain data indicate this momentum could extend further, as large investors continue to place large bets on Chainlink over the weekend.
http://twitter.com/lookonchain/status/1956920547692122563
On Sunday, August 17, blockchain analytics firm Lookonchain spotted a whale swapping 4,806 ETH, worth $21.25 million, to accumulate 938,489 LINK across five wallets. Notably, the identified whale previously gained $4.14 million during the USDC depeg, exited Ethereum positions before the UST/LUNA collapse, and capitalized on Shiba Inu by selling at the 2021 peaks.
Such a calculated rotation into Chainlink suggests high conviction that LINK’s rally may not be over yet.
With Chainlink price consolidating near $26 at press time, a breakout toward $27 would mark a new year-to-date peak. It remains to be seen if this psychological milestone will draw more aggressive bullish positions in the coming week or whether caution sentiment in the broader crypto market prompts early profit-taking.
Chainlink (LINK) surged 15.22% in the latest daily session, closing at $26.09, its strongest rally in months. The price is now trading just below the critical resistance at $26.32, a level last tested in March 2024. A confirmed breakout above this ceiling could open the path toward $30, setting a new yearly high.
Technical indicators reinforce bullish momentum. The MACD histogram shows widening green bars, with the MACD line at 0.470 positioned above the signal line at 1.417, signaling strong upward momentum. Meanwhile, the 20-day simple moving average (SMA) at $19.73 continues to slope upward, supporting the bullish Chainlink price prediction.
Chainlink price forecast | LINKUSD 24H
Beyond that, the Bollinger Bands highlight increased volatility, with LINK trading well above the middle band at $19.73 and pressing against the upper band near $25.93. This positioning suggests overbought conditions but also validates active buying pressure.
In the short term, a daily close above $26.32 would confirm intent to push for the $27 target. If this positive LINK price forecast materializes, the next resistance levels sit at $28.50 and $30.00.
On the downside, immediate support lies at $24.00, with stronger demand expected at the $22.00 range.
In summary, LINK’s technical outlook favors further upside if bulls secure a decisive close above $26.32. Failure to do so could see consolidation between $22 and $26 before the next leg higher.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
