LINK, the native token of Chainlink, appears to be gaining attention from crypto enthusiasts as its price shows signs of recovery following a significant decline in December 2024. On January 5, 2025, a prominent crypto expert posted on X (formerly Twitter) that whales have purchased over 1.40 million LINK tokens in the past four days.
Whales Buy 1.40 Million LINK Tokens
These notable acquisitions by Whales show confidence and interest as the market approaches the presidential inauguration, anticipated to be one of the most significant game-changing events for the crypto industry in 2025.
Furthermore, this accumulation suggests that whales are positioning themselves for 2025, ensuring they don’t miss out on any substantial upside momentum. However, it has been observed that this notable acquisition has led to a 22% price rally during the same period and is continuing to drive upward momentum.
LINK Technical Analysis and Upcoming Levels
According to CoinPedia’s technical analysis, LINK appears to be consolidating within a tight range between $23 and $24 and is poised for a breakout. Since the beginning of 2025, LINK has consolidated twice on the four-hour time frame before experiencing upward momentum.
Experts and analysts speculate a similar upside rally to what was observed in the past four days. Based on the recent price action, there is a strong possibility that LINK could soar by 20% to reach the $29 mark in the coming days.
On a positive note, the altcoin has just breached the 200 Exponential Moving Average (EMA) on a four-hour time frame and closed a candle above it, indicating a potential shift into an uptrend.
Current Price Momentum
Currently, LINK is trading near $23.40 and has witnessed an upward momentum of 1.20% in the past 24 hours. However, during the same period, its trading volume dropped by 33.40%, indicating reduced participation from traders and investors compared to the previous day.
