Despite Whale Dump, Chainlink Stays Strong—Is a $45 Rally Incoming?
Chainlink Whale Dumps $4.59M in LINK—But Is a Massive Rally Coming?
The crypto market was shaken when a major Chainlink whale offloaded 356,665 LINK tokens, worth a whopping $4.59 million. Typically, such large sell-offs spark fear among traders. But here’s the surprising part—despite the whale’s move, Chainlink’s price rose by 2%, closing at $13.15 on March 13. So, what’s next for LINK? Could this be the start of a bigger breakout toward $45?
Whale Selloff Sparks Market Speculation
On-chain data from Onchain Lens confirmed that a significant LINK holder sold off tokens at an average price of $12.88. Usually, when whales sell, it sends bearish signals, leading to short-term price dips. However, in this case, Chainlink defied the trend.
Does that mean investors should ignore whale moves? Not exactly. These large transactions still matter, as they can trigger volatility. The whale in question still holds 7,693 LINK tokens, worth approximately $101,533. That’s a fraction of what they previously held—so was this just profit-taking, or is there something bigger at play?
Crypto Market Holds Strong Despite Whale Moves
Interestingly, the broader crypto market showed resilience following the release of US CPI data, which indicated slowing inflation. This stability prevented Bitcoin and other top altcoins from tumbling further—and Chainlink followed suit.
Historically, big sell-offs create fear-driven sell pressure. But in LINK’s case, traders appear unfazed. The price remained stable, even bouncing back into an upward trajectory. If this trend holds, we could see Chainlink making an even bigger move in the coming weeks.
Chainlink Price Holds Key Support, Targets $45
Despite the whale dump, LINK climbed by 2% and currently trades around $13.15. Over the last 24 hours, the token fluctuated between $12.82 and $13.77, signaling steady buying interest. The market’s recovery played a crucial role in maintaining these price levels.
Analysts believe that Chainlink’s ability to hold above $12.80 is a make-or-break moment. If bulls sustain this level, the next resistance targets are clear:
- First Major Resistance: $15 – A critical level where selling pressure could emerge.
- Breakout Zone: $20 – Breaking past this level could fuel an extended rally.
- Moonshot Target: $45 – If momentum stays strong, this is the ultimate bullish scenario.
Analyst Predicts a Chainlink Breakout
Crypto analyst Bitcoin Buddha sees strong upside potential. According to his latest market analysis, LINK has bounced off the $12 support level—a classic bullish signal. If buying momentum continues, LINK could retest previous highs.
Another bullish indicator? The weekly chart is forming a bullish engulfing pattern, which signals that buyers are regaining control. Historically, when this pattern appears, it’s often followed by a significant price surge.
What’s Next for Chainlink?
For LINK to maintain its bullish outlook, it must hold above the $12–$13 range. A sustained move above $15 could lead to a breakout toward $20. And if the rally gains momentum, the dream target of $45 is not out of reach.
The bottom line? Chainlink has defied bearish expectations and is showing signs of strength. While whale sell-offs create short-term noise, the real question is: Are you ready for the next big LINK move?
