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Chainlink (LINK) has confirmed a significant double bottom breakout above $17.17, signaling a bullish trend reversal supported by rising trading volume.
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Resistance at $18.50 remains a critical hurdle; surpassing this level could propel LINK toward the $20 mark and potentially higher targets.
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Whale accumulation and a total value secured (TVS) exceeding $52.3 billion underscore growing investor confidence in Chainlink’s long-term prospects, according to COINOTAG analysis.
Chainlink confirms a double bottom breakout above $17.17 with rising volume; $18.50 resistance is key for a move toward $20 and beyond amid strong whale accumulation.
Chainlink’s Double Bottom Breakout Marks a Bullish Reversal
Chainlink’s recent price action demonstrates a clear breakout from a prolonged downtrend, marked by a double bottom formation above $17.17. This technical pattern, confirmed by a surge in trading volume to over 31 million LINK, signals a shift in market sentiment from bearish to bullish. The breakout effectively ended a descending channel that had constrained LINK since early 2025, indicating renewed momentum. At the time of writing, LINK trades near $18.27, maintaining strength above its 50-day moving average, a key indicator favored by trend-following traders. The Relative Strength Index (RSI) has rebounded from oversold territory, suggesting a healthier price structure and potential for further gains.
Investor Confidence Bolstered by Whale Accumulation and On-Chain Metrics
On-chain data reveals substantial accumulation by large holders, with whales acquiring over 1.6 million LINK tokens valued at approximately $28 million in recent weeks. This behavior typically reflects strong conviction in the asset’s future potential, especially during pivotal technical breakouts. Additionally, Chainlink’s total value secured (TVS) has surpassed $52.3 billion, underscoring its expanding role within decentralized finance (DeFi) ecosystems. These metrics collectively highlight growing institutional and retail interest, reinforcing the bullish narrative around LINK’s price trajectory.
Key Resistance Levels at $18.50 and $20 Define Short-Term Outlook
Despite the positive breakout, LINK faces critical resistance near $18.50—a level that has capped short-term gains and requires a decisive daily close above to confirm sustained upward momentum. Historical price patterns indicate that overcoming this resistance could unlock a rally toward the psychological $20 threshold, with potential extensions toward $26 based on previous breakout precedents. Traders should monitor this zone closely, as failure to breach $18.50 may prompt short-term pullbacks, offering accumulation opportunities around established support levels at $17.17 and $16.50.
Technical and Fundamental Factors Support Continued Growth
Chainlink’s technical setup is complemented by robust fundamental indicators, including increasing adoption across smart contract platforms and integration within DeFi protocols. The combination of a confirmed double bottom breakout, rising whale activity, and a strong TVS base suggests a well-supported foundation for future price appreciation. Market participants are advised to watch volume trends and on-chain metrics alongside price action to gauge the strength of ongoing moves.
Conclusion
Chainlink’s breakout above $17.17, supported by rising volume and significant whale accumulation, marks a pivotal moment in its price evolution. While resistance at $18.50 remains a key barrier, a successful breach could pave the way for a rally toward $20 and beyond. Investors should remain attentive to both technical signals and on-chain data to navigate potential volatility and capitalize on emerging opportunities within the LINK market. Maintaining a disciplined approach to risk management will be essential as Chainlink continues to establish itself amid a dynamic crypto landscape.
