Chainlink (LINK) has risen to $8.75, up 4% in 24 hours, pushing monthly gains to 10%. Analysts see a potential breakout, with CryptoPatel targeting $100 if the price closes above $10.87 on higher timeframes, while a close below $4.761 would invalidate the setup. TheBoss notes LINK is approaching a decisive point, with a descending trendline pressing into the structure. Institutional interest grows: Standard Chartered set a $200 target by 2030. On-chain metrics show reduced selling pressure after 1.26 million LINK were withdrawn from exchanges, and whale transactions hit a five-month high of 246 daily moves over $100,000.
Chainlink (LINK) has picked up pace after spending much of the month moving between roughly $8.1 and $8.5. The token is currently trading at $8.75, after increasing by roughly 4% in the last 24 hours, bringing monthly gains to around 10%.
According to analysis by CryptoPatel, LINK is nearing a major move and could reach targets as high as $100. The market watcher stated that the asset is trading in a bullish order flow, which is one of the strongest long-term accumulation zones on the chart.
A confirmed higher-timeframe close above $10.87 could open the way toward $25, $50, and $100. A higher-timeframe close below $4.761, however, would invalidate the setup.
TheBoss also echoed a similar view and said that LINK is “approaching a decisive point.” The trader explained that the weekly chart has spent months building a base above the long-term support zone, with the descending trendline now pressing into the current structure.
The trader highlighted RSI, MACD, and ADX as important indicators for momentum. A clean break above the descending trendline would strengthen the structure, while losing macro support would invalidate it.
LINK also drew attention from Standard Chartered, which sees strong long-term potential if tokenization growth accelerates. The bank has set a $200 price target for the asset by the end of 2030.
Exchange balances took a hit last week after 1.26 million LINK tokens were pulled out in a single day, which could ease immediate selling pressure. The move comes amid several developments, including the DTCC listing Chainlink among its technology providers for tokenized US securities trades, while CCIP expanded its support across institutional and crypto networks such as Canton and Robinhood Chain.
Whale activity has also increased. The network recorded 246 separate transactions worth more than $100,000 in 24 hours, its highest daily level in five months.
According to data from Santiment, wallets holding between 100,000 and 10 million LINK hold 466.31 million tokens, equal to 46.57% of the total supply. The activity of these holders has historically tracked the asset’s price fairly closely.
