Chainlink Price Sees Significant Accumulation Ahead of Potential Breakout
Chainlink's price has surged by 35% over the past 30 days, drawing attention from both retail and institutional investors. This upward momentum is also reflected in Chainlink ETFs, which saw a positive turn in early September with inflows totaling $5.36 million across Bitwise's CLNK and Grayscale's GLNK.
According to data, whales have been accumulating LINK tokens during the recent dip, with roughly 10.36 million tokens worth around $120 million being purchased over the past 96 hours. This accumulation after a sharp pullback suggests that whales may be positioning for a rebound.
The technical levels are also showing signs of a potential break above $12, which could open the path to the $13.30 swing high and eventually the $15 target. However, the MACD histogram shows a slight positive reading, suggesting bearish momentum is easing, while the RSI sits at 38.65, above the oversold zone but not yet showing strong buying pressure.