LINK saw a significant whale buying activity as its price dropped to the $21 level on Sept. 22.
Chainlink LINK $12.39 24h volatility: 1.0% Market cap: $8.79 B Vol. 24h: $473.56 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Martinez noted that about 5.5 million LINK were withdrawn from trading platforms on Sept. 22.
5.50 million Chainlink $LINK withdrawn from crypto exchanges in 24 hours!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
What’s Next for LINK Price?
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
Analysts Eye a Bigger Move Ahead
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.
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