Chainlink Whales Load Up $97M in August, LINK Price to Hit $95 Next?

The post Chainlink Whales Load Up $97M in August, LINK Price to Hit $95 Next? appeared first on Coinpedia Fintech News

Chainlink (LINK) is holding strong around $21.70 today, with bullish sentiment fueled by whale accumulation, shrinking exchange supply, and growing open interest. On-chain analysts like Ali Martinez say a break above the $24 resistance could ignite a multi-stage rally towards $95. 

Notably, Trump’s new executive order supporting crypto in 401(k)s could fuel the market’s next rally, potentially pushing LINK toward its next resistance at $24-$26.

The bullish argument rests on a classic symmetrical triangle setup that has been forming since 2021. History shows such patterns resolve in sharp, multi-leg moves, with periods of consolidation between surges, a setup LINK is following closely.

Chainlink Supply Squeeze Is Already Underway

While technicals hint at an explosive move, fundamentals are quietly stacking in LINK’s favor. The Chainlink Reserve has been on an accumulation spree, adding 65,550 LINK, worth around $1.4 million, at an average price of $16.83. This steady purchasing reduces the available supply on exchanges, a dynamic that has historically supported price rallies when demand stays strong. Interestingly, more than $1 million worth has already been locked away in a model reminiscent of corporate Bitcoin treasury strategies. The transparency of these buys strengthens market confidence in LINK’s value proposition. 

Such scarcity can shift market sentiment, pulling in more speculative buying as traders anticipate tighter liquidity. With fewer tokens available, upward price moves could accelerate if a breakout occurs, amplifying LINK’s rally potential.

Whales Stack LINK as Exchange Balances Drop

Moreover, the whale activity is hard to ignore. Chainlink price has surged 43.99% over the past month to $21.15, with wallets holding between 100,000 and 1 million LINK growing by 4.2% in August. That’s an extra 4.55 million tokens, valued at $97 million, scooped up by large holders. At the same time, exchange reserves have dropped by 33 million LINK since July, signaling tighter market liquidity. Derivatives open interest has also jumped 27% to $1.06 billion, suggesting big players are positioning for a continued move up.

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LINK Price Path Toward $95?

Ali Martinez, in his charts, has set his most ambitious target of $95, which might seem far off, but the roadmap is built on measured steps. A break above $24 could trigger the first leg to $31.8, with bulls aiming for $52.3 before any attempt at triple digits. Each stage likely involves retests and consolidations, giving the market time to absorb gains and prepare for the next push.

For now, the stage appears set. The technical structure is mature, with a clear accumulation trend, and market liquidity is tightening. If bulls can crack the $21.6–$24 ceiling, LINK may finally be ready to shift from years of sideways grind into a breakout cycle, one that could rewrite its price history.