TLDR
- Chainlink (LINK) has surged 27% from recent lows, reaching $23.56
- Whales have accumulated 1.35 million LINK ($31 million) since January 14
- Technical analysis suggests a bull pennant formation targeting $50
- Key support level at $18-20 has been confirmed
- CCIP v1.5 upgrade introduces new cross-chain token deployment features
Chainlink’s native token LINK has demonstrated strong upward momentum, pushing past the $23 mark in a notable recovery from its recent market lows. The digital asset has shown resilience in the face of broader market fluctuations, climbing 27% from its Monday bottom.
The surge comes amid increased buying activity from large-scale investors, commonly known as whales in the cryptocurrency space. Data reveals these institutional players have acquired 1.35 million LINK tokens since January 14, representing approximately $31 million in purchasing value.
This recent accumulation adds to an already robust pattern of whale activity. In late December, these large investors bought 3.58 million LINK tokens, worth $77 million at the time. The first four days of 2025 saw an additional 1.4 million tokens changing hands, indicating sustained interest from institutional buyers.
Market technicals have aligned with this buying pressure, as LINK forms what analysts identify as a bull pennant pattern since its December peak. The token recently broke above the pattern’s upper trendline, suggesting potential for further upward movement.
The $18-20 price range has emerged as a crucial support zone for LINK, with the token successfully defending this level during recent market corrections. Historical data shows this particular zone has served as a springboard for previous rallies, including moves toward all-time highs.
Technical analyst Jelle has pointed to the importance of this support level, noting that LINK’s weekly chart structure has strengthened after what he described as a “painful retest” of the support zone. The successful defense of this level has reinforced market confidence in LINK’s current trajectory.
The latest price action has captured the attention of multiple market observers. Altcoin Sherpa, a prominent crypto analyst, has suggested that LINK could be forming a “V shape reverse up” following the recent market downturn.

LINK’s performance stands out against the backdrop of broader market recovery. The token has managed to reclaim the $23 mark for the first time in ten days, representing a 9% increase in daily trading. This movement has pushed LINK above several key resistance levels that had previously capped its upward momentum.
Adding fundamental strength to LINK’s market position, Chainlink has unveiled its CCIP v1.5 upgrade. This technical enhancement focuses on improving cross-chain token deployment capabilities for developers within the Chainlink ecosystem. The upgrade introduces a new Cross-Chain Token standard and an improved CCIP Token Manager interface.
These technical improvements arrive at a time when cross-chain functionality has become increasingly important in the blockchain space. The upgrade gives developers greater control and ownership over their tokens, potentially driving increased adoption of Chainlink’s technology.
Looking at historical price action, LINK has shown steady growth since its previous consolidation phase. The token surged 200% in a single month during the post-election period, reaching a multi-year high of $30. Though December saw some pullback, with LINK trading between $20 and $25, the current recovery suggests renewed buying interest.
The market structure shows LINK maintaining higher lows, a pattern typically associated with sustained upward trends. Current trading data places LINK at $23.56, representing a 6% increase over the daily timeframe.
Trading indicators paint a constructive picture for LINK’s near-term prospects. The MACD indicator shows positive momentum, while the RSI has entered overbought territory at 72, suggesting strong buying pressure despite the potential need for consolidation.
Support levels have been established at $20, while immediate resistance sits at $24.35. Market participants are watching these levels closely for signs of continued momentum or potential consolidation.
Recent whale transactions show no signs of slowing, with ongoing accumulation suggesting confidence in LINK’s value proposition. The combination of technical upgrades, institutional buying, and strong market structure has created a foundation for LINK’s current price action.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support