Chainlink has broken a multi-year resistance, triggering a bullish breakout as whales withdraw over 5.34M LINK from exchanges. On-chain outflows, higher highs/lows and Fibonacci targets at $31.57 and $53.07 suggest potential upside if LINK holds $21 support.
Chainlink breakout confirmed by a 3-year trendline breach—bullish macro signal.
Over 5.34 million LINK withdrawn from exchanges on September 12, indicating large-holder accumulation.
Fibonacci extensions point to targets near $31.57, $53.07 and a long-term stretch above $100 if momentum persists.
Chainlink breakout: LINK breaks 3-year resistance as whales withdraw 5.34M LINK—track on-chain flows and technical levels for next targets. Read now.
Chainlink breaks major resistance as whales scoop up millions of LINK. On-chain signals and price action hint at a rally.
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- Chainlink has broken a long-term resistance trendline, signaling a bullish macro breakout.
- Over 5.3M LINK tokens were withdrawn from exchanges, indicating whale accumulation.
- Fibonacci extensions project potential LINK targets at $31.57, $53.07, and over $100.
Chainlink (LINK) has shattered a 3-year resistance zone, igniting fresh bullish momentum. Large holders are accumulating as exchange supply drops, and technical indicators plus on-chain flows point to upside potential if key support levels hold.
What is the Chainlink breakout and why does it matter?
Chainlink breakout refers to LINK moving above a long-term symmetrical triangle resistance that compressed price since 2021. This breakout signals a possible trend change to bullish, especially when supported by exchange outflows and improving market structure.
How are whales accumulating LINK and what on-chain evidence supports this?
On September 12, Santiment-style on-chain data recorded a sharp exchange outflow: over 5.34 million LINK withdrawn from centralized exchanges. Large withdrawals typically indicate hodling or custody transfers by institutions and reduce immediate sell-side liquidity, increasing the chance of a supply squeeze if demand rises.
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As of this writing, LINK trades near $24.60 after a modest pullback. The coin remains above the 0.618 Fibonacci retracement at ~ $21.00, a key pivot that must hold to validate the bullish scenario. A breach below $21 would open a path toward $16, negating the breakout.
Fibonacci extensions and price structure suggest near-term targets at $31.57 and $53.07, with longer-term scenarios exceeding $100 if momentum accelerates. Timing depends on macro market rotation and whether LINK can secure $25–$26 as new support.
Price structure now shows higher highs and higher lows, a classic bullish signature. The breakout above a symmetrical triangle that had contained LINK since 2021, coupled with decreasing exchange supply and rising demand, creates a favorable technical backdrop for continued gains.
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