Chainlink Price Jumps on Whale Activity, Eyes Breakout Above $10.87

Chainlink (LINK) has seen significant price action in recent days, surging 4% to $8.74 and gaining about 7% over the past week.

This increase is attributed to a five-month high in large whale transactions exceeding $100,000, with these whales now holding 46.57% of LINK's supply.

Analysts see LINK as undervalued with solid fundamentals and a promising outlook, backed by a $200 price target from Standard Chartered by 2030.

The token has also broken a long-term downtrend on August 11 and is targeting resistance at $10.87 and $12.20, supported by technical indicators and derivatives market activity.