Chainlink’s native token, LINK, appears to be gaining attention from cryptocurrency enthusiasts as its price shows signs of recovery after a significant decline in December 2024. On January 5, 2025, a prominent cryptocurrency expert posted the following on X (formerly Twitter): Over 1.4 million LINK tokens were purchased in the last 4 days.
Whale purchases 1.4 million LINK tokens
These high-profile acquisitions by Whales demonstrate confidence and interest as the market approaches the Presidential Inauguration in 2025, expected to be one of the most important game-changing events for the cryptocurrency industry.
Moreover, this accumulation suggests that whales are positioning themselves heading into 2025 and ensuring that significant upward momentum is not lost. However, due to this notable acquisition, it is observed that the upward momentum is continuing with a price increase of 22% over the same period.
LINK technical analysis and future levels
According to CoinPedia’s technical analysis, LINK appears to be consolidating within a narrow range between $23 and $24 and is poised for a breakout. Since early 2025, LINK has consolidated twice on a 4-hourly basis before experiencing upward momentum.
Experts and analysts are speculating an upward rally similar to that observed over the past four days. Based on recent price movements, it is likely that LINK will surge 20% in the coming days and reach the $29 level.
The positive thing is that the altcoin broke the 200 exponential moving average (EMA) in four hours and closed a candle above it, suggesting a potential reversal to an uptrend.
Current price momentum
Currently, LINK is trading near $23.40 and has witnessed an upward momentum of 1.20% over the last 24 hours. However, during the same period, trading volume decreased by 33.40%, reducing the participation of traders and investors compared to the previous day.