TLDR
- Chainlink price analyst predicts $52 target based on bullish double bottom pattern formation
- LINK Reserve purchased 44,109 tokens worth over $1 million in latest accumulation round
- Whale transactions exceeding $100,000 hit seven-month high with 992 recorded transactions on Thursday
- Daily active addresses trading LINK increased 55% since early August showing growing network engagement
- Key resistance level identified at $36 must be broken for continued upward momentum
Chainlink price currently trades at $22.37 following an 11% decline from its August 13 peak of $24.74. Despite recent volatility, technical analysis and on-chain data suggest potential for upward movement.
Crypto analyst CryptoGoos has identified a bullish double bottom pattern in LINK’s price chart. This W-shaped formation indicates strong support levels where buyers consistently enter during price declines.
DOUBLE BOTTOM FOR $LINK.
SEND IT UP! 🚀 pic.twitter.com/2KSKyFdLDJ
— CryptoGoos (@crypto_goos) August 15, 2025
The double bottom pattern typically signals an upcoming uptrend when bulls successfully defend key support zones. CryptoGoos projects a Chainlink price target of $52 if the pattern continues developing.
Breaking Key Resistance Levels
Reaching the $52 target requires breaking through resistance at $36. This level represents a crucial barrier that LINK has not surpassed since 2022.
Successfully moving past $36 and establishing it as support would confirm the bullish outlook. The analyst also identified potential for an inverse head and shoulders pattern formation.
LINK’s all-time high stands at $52, making this level both a technical target and psychological milestone.
Institutional Buying Pressure Increases
The Chainlink Reserve recently purchased 44,109 LINK tokens worth over $1 million. This acquisition brings their total holdings to more than 109,662 LINK valued at approximately $2.6 million.
The Reserve’s buying follows previous purchases earlier this week, including a $1.4 million LINK acquisition. These institutional purchases create additional buying pressure beyond regular spot market activity.
Chainlink Price Prediction
On-chain data shows whale transactions exceeding $100,000 reached a seven-month high of 992 on Thursday. This represents the highest level of large holder activity since January 2025.
🔥 LATEST: $LINK Rallies Nearly 40% in a Week as Whale Activity Surges 📈
🐳 Whale transactions at their highest level in seven months, alongside profits not seen since late 2024.
On the on-chain side, we're seeing the most active $LINK addresses in 8 months, and most whale… pic.twitter.com/fRio7S0PZ8
— CryptosRus (@CryptosR_Us) August 14, 2025
Despite market consolidation, 232 whale transactions worth more than $100,000 have been recorded today. The sustained whale interest indicates large investors view current price levels as attractive.
Network engagement has improved with daily active addresses trading LINK increasing 55% since early August. This metric uses a seven-day moving average and demonstrates broader participation beyond whale activity.
The combination of whale accumulation and increased daily active addresses suggests growing confidence across different investor segments.
Current technical analysis identifies $22.21 as key support for LINK price. Maintaining this level could enable a rally toward $25.55 based on chart patterns.
If support at $22.21 fails, the next downside target sits at $19.51. The Chainlink Reserve now holds 109,662 LINK tokens worth $2.6 million following recent million-dollar purchases.
