LINK, Chainlink’s native token, seems to be catching the attention of crypto enthusiasts as its price shows signs of recovery after a significant decline in December 2024. On January 5, 2025, a prominent crypto expert posted on X (formerly Twitter) that whales have bought more than 1.40 million LINK tokens in the last four days.
Whales Buy 1.40 Million LINK Tokens
These notable acquisitions by Whales demonstrate confidence and interest as the market approaches the presidential inauguration, which is expected to be one of the most significant game-changing events for the crypto industry in 2025.
Furthermore, this accumulation suggests that whales are positioning themselves for 2025 so that they will not miss any substantial upside momentum. However, it has been observed that this notable acquisition has led to a 22% price increase over the same period and continues to drive upward momentum.
LINK Technical analysis and upcoming 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 the beginning of 2025, LINK has consolidated twice within the four-hour time frame before experiencing upward momentum.
Experts and analysts are speculating on a similar upward rally to that of the past four days. Based on the recent price action, there is a strong possibility that LINK could rise 20% in the coming days to reach the $29 mark.
On the plus side, the altcoin just crossed the 200 Exponential Moving Average (EMA) over a four-hour time frame and closed a candle above it, indicating a possible shift to an uptrend.
Current price momentum
Currently, LINK is trading around $23.40 and has witnessed an upside momentum of 1.20% in the last 24 hours. However, during the same period, trading volume fell by 33.40%, indicating reduced participation from traders and investors compared to the day before.
