LINK saw a significant whale buying activity as its price dropped to the $21 level on Sept. 22.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Chainlink LINK $21.80 24h volatility: 2.7% Market cap: $14.78 B Vol. 24h: $909.47 M has bounced back after a sudden market drop, becoming one of the best crypto to buy among large investors. The popular oracle network token is trading around $21.83, up 2.2% in the past day.
Notably, on Sept. 22, LINK saw an 8% fall amid a broader crypto market decline that briefly pushed prices near the $21 mark. This resulted in a loss of around $1 billion in market cap, now hovering near $14.8 billion.
However, whales seized this opportunity to buy the dip, adding over 800,000 LINK to their holdings, according to on-chain data shared by analyst Ali Martinez.
Over 800,000 Chainlink $LINK bought by whales in the recent dip! pic.twitter.com/g1nDZmXMZL
— Ali (@ali_charts) September 23, 2025
Moreover, data from CryptoQuant confirms that LINK exchange dropped to an all-time low, suggesting investors are increasingly opting for self-custody.
Chainlink exchange reserves at an all-time low | Source: CryptoQuant
Martinez noted that about 5.5 million LINK were withdrawn from trading platforms on Sept. 22.
5.50 million Chainlink $LINK withdrawn from crypto exchanges in 24 hours! pic.twitter.com/uXGTkyQbHy
— Ali (@ali_charts) September 22, 2025
On the daily chart, LINK is trading near the lower Bollinger Band around $21.35, active as immediate support. A break below this point might invite further downside.
However, a price rebound above the mid band (20-day SMA) near $23.32 could result in a possible bullish breakout.
LINK price chart with RSI and Bollinger Bands | Source: TradingView
The RSI sits at a neutral reading that suggests the token is neither overbought nor oversold. An upward move in RSI could hint at growing bullish momentum. Key resistance lies around $23.5, a level above which a sharp rally to $30 is possible.
Meanwhile, the MACD line is well below the signal line with a negative histogram, reflecting continued bearish pressure. Traders looking for any buying opportunity should watch for support around $20.80.
LINK price chart with MACD | Source: TradingView
Despite the recent price volatility, analysts remain optimistic for LINK’s long-term price trajectory. Trader Crypto NL shared on X that LINK appears to be “gearing up for the next move toward $30.”
$LINK Update
LINK is gearing up for the next move toward $30.
If that level breaks, LINK could run very hard.
We saw a hard drop, but support was found at the key $20 level.
From here, I expect a move toward $30.The bigger picture is still in play. I see a $100 LINK in the… pic.twitter.com/riKUG4BM9S
— Crypto NL (@cryptoking_nl) September 22, 2025
The analyst believes the token could “run very hard,” with the long-term LINK price outlook targeting as high as $100.
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.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
