Whales Accumulate $188 Million in LINK, Fueling Chainlink’s Post-Crash Recovery

Chainlink’s LINK Advances as Whales Accumulate $188M Amid Recovery Efforts

Chainlink’s LINK token gained momentum on Monday, rising 3% to $18.80, as large holders continued to accumulate following October’s crypto market downturn.

On-chain data from Lookonchain shows that whale wallets have withdrawn nearly 10 million LINK (worth about $188 million) from Binance since the October 11 sell-off, signaling renewed confidence from long-term investors despite lingering volatility.

Technically, LINK is showing signs of stabilization. According to CoinDesk Research’s analysis model, the token has established a sequence of higher lows near $18.10 and $18.42, forming a bullish short-term structure. A breakout above $18.70 confirmed the shift, though overall trading volume remains 5% below the weekly average, hinting that larger market participants are still cautious.

The ascending channel that has guided LINK’s price since mid-2023 remains intact. Immediate support lies around $18.24, while resistance is clustered near $18.70–$18.75. Should bullish momentum persist, LINK could target the $20.00 zone, though failure to hold above $18.10 would risk a short-term pullback.

Despite modest volumes, analysts view the recent whale accumulation and structural resilience as encouraging signs that LINK’s recovery may have further room to run into November.