Chainlink's Bullish Chart Pattern Points to Breakout Above $16

Chainlink (LINK) is showing renewed activity this week as whales have been buying up the token. According to analyst Ali Charts, over 2.50 million LINK were bought by large holders in the past 10 days.

This buying comes alongside steady growth in new addresses on the network, with nearly 1,500 new LINK addresses being created each day. This points to more people joining the network, though some addresses may belong to exchanges or automated systems rather than new individual users.

Analyst Quinten noted that LINK's weekly close at $14.04 was meaningful as it held above $13.70 resistance and marked the highest weekly close since November 2025. He also mentioned that momentum is strong, but there's quite a lot of resistance in the area near $15.

The Chainlink Reserve added 373,791 LINK in September, bringing total holdings to 6.04 million LINK. This figure has nearly doubled since the end of Q1 when the Reserve held 3.06 million LINK.