Chainlink Near $25 as Golden Cross and Whale Surge Signal $60 Target

Key Points

• Whale transactions above $1M surge, signaling rising LINK accumulation.
• Chainlink forms bullish Golden Cross with potential targets near $60.
• Cup and handle pattern points to retest of $52–$53 resistance zone.

Chainlink is trading near $25.68, consolidating after recent gains, while analysts highlight multiple bullish signals across technical and on-chain metrics. Whale activity has surged to a seven-month high, and a rare Golden Cross on the monthly chart adds further momentum to the outlook.

The price shows mixed performance, gaining 0.14% in the last hour but posting a 1.33% daily and 1.82% weekly decline. Despite this short-term softness, LINK remains up more than 46% this month, underscoring its strong performance within the broader crypto market.

Whale Activity and Technical Breakouts Support Momentum

Santiment data shows a sharp rise in whale transactions above $1 million, reflecting growing activity from large holders. This uptick historically aligns with higher volatility, as whales influence liquidity and short-term market direction.

The chart indicates a steady increase in whale counts through July and August, matching LINK’s upward movement. Analysts warn that while this activity supports bullish continuation, it also raises the risk of sharp pullbacks if profit-taking accelerates.

On the daily timeframe, LINK has broken above channel resistance and is retesting support around $0.22–$0.23. Analysts consider this a key zone, with targets between $0.40 and $0.50 in the short term, and potential moves toward $0.75 or $1 during stronger rallies.

At the same time, derivatives data shows declining participation. Trading volume dropped 49.03% to $2.16 billion, and open interest fell 2.51% to $1.87 billion. However, long/short ratios on Binance and OKX remain skewed toward longs, showing traders still favor upside.

Golden Cross, Cup and Handle, and Market Outlook

Analyst Rekt Fencer confirmed LINK’s third-ever monthly Golden Cross, a technical event historically followed by major rallies. The first Golden Cross in 2019 preceded a 2,550% surge, while the second in 2023 delivered gains above 300%.

The new signal suggests a potential upside of around 302%, which could push LINK toward $60 if the pattern repeats. Supporting this, the MACD has crossed upward, reinforcing expectations of sustained strength in the coming months.

Additional technical structures strengthen the case. Analyst Rendoshi Ondomoto highlights a bullish cup and handle formation with resistance near $29. A successful breakout would project a retest of LINK’s all-time highs around $52–$53.

However, analyst ChannelChartist warns that a rising wedge may trigger a near-term correction before a larger move higher. With RSI near 61, momentum is strong but still leaves room for a pullback.