- Chainlink price shows a short consolidation trend with $7.5 support, building the bullish momentum for its next breakout.
- On-chain metrics reveal a steady increase in accumulation by mid-to-large holders, reaching a recent high of 25,420 wallets.
- A potential death crossover between the 50-and 200-weekly exponential moving average (EMA) could accelerate the market selling pressure and drive a prolonged consolidation below $10.
On March 25th, the Chainlink price showed a bullish uptick of 1.3% to reach $9.25. The buying pressure aligns with broader market stabilizing as a major update on middle war is plumbing the investors’ sentiment. In addition, the mid-to-large tier wallets are returning to the network in anticipation of a future breakout. Can Chainlink price sustain a rally above $10?
LINK Consolidates Near Key Levels as Smart Money Accumulates
Since early February, the Chainlink price has been resonating within a narrow range of $10 to $7.5. The price action is relatively flat with no major breakout attempts, indicating a lack of conviction from buyers or sellers.
As geopolitical tension has eased recently, the LINK price shows a bullish around in daily chart, heading to the overhead resistance for a bullish breakout.
The open interest tied to the LINK futures contract witnessed a similar uptick in the week, reaching $387. However, the majority trend in derivative trading remains bearish, signaling that the traders are still cautious and avoid heavy exposure in this asset.
Meanwhile, Chainlink’s mid to large-sized holders have reached a record high of 25,420 wallets holding a minimum of 1,000 LINK tokens, the highest amount since December 2025.
Santiment data shows that the number of such addresses has been rising steadily despite the sluggish price action. The figure represents increasing accumulation among larger wallets, while there is still some sideways movement in LINK.
This divergence, where retail traders remain cautious as large-holders accumulate, has often coincided with major bottom markets or renewed recovery momentum in price. If the trendline continues, the Chainlink price gains a higher potential to breach the $10 resistance.
Chainlink Price Analysis Shows a Multi-Year Sideways Trend
A broader analysis of the Chainlink price chart shows a long-term sideways trend between two converging trendlines. Since November 2021, a downsloping trendline has acted as major resistance for LINK coin, while a support trendline hanging since August 2024 has acted as a major accumulation zone for buyers.
Currently, the LINK coin is hovering above the bottom trendline, as it regains bullish momentum for the next breakout. The momentum indicator RSI (Relative Strength Index) bounced to 36% to accentuate the restoring buying pressure.
Thus, a potential breakout from the $10 resistance will trigger a fresh bull cycle within the sideways trend. Historically, an upswing within a pattern has triggered a mid-to-long-term recovery towards the pattern’s resistance trendline.
With sustained buying, the Chainlink price forecast suggests that the LINK price could challenge potential resistance at $15, $18, and $23, which could potentially coincide with the overhead trendline at the time of contact.
On the contrary, a bearish breakdown from the bottom trendline will significantly accelerate the selling pressure and drive an extended downtrend to $5.75 or $4.88.
