🤔 Time to Buy $LINK ? Chainlink Open Interest Soars to All-Time High

On December 12, 2024, Chainlink (LINK) seems to be in the eyes of both whales and institutions, leading to a notable price surge in the past 24 hours. According to a whale transaction tracker on X (formerly Twitter), significant accumulation has been reported, ranging from wallet-linked Trump to whales.

🔸 Whales and Institutions Rising Interest in LINK

During the Asian trading hours, Eyesonchain, a blockchain-based transaction tracker made a post on X that Trump’s World Liberty Financial acquired a significant 41,335 LINK, worth $1 million. This notable purchase was made at an average price of $24.19.

Additionally, another blockchain-based transaction tracker Lookonchain made a post on X that a whale had invested a substantial 1,263 ETH worth $4.95 million to acquire 175,424 LINK tokens at an average price of $28.18 level.

🔸 Chainlink (#LINK ) Open Interest Reaches All-Time High

These two substantial acquisitions in less than 12 hours have gained widespread attention from the crypto community, resulting in a record jump in price and future open interest (OI).

According to the on-chain analytics firm Glassnode, LINK’s price has jumped to its highest level in the past two years, while its future OI has reached an all-time high of $770.27 million.

🔸 #Chainlink (LINK) Technical Analysis and Upcoming Levels

According to expert technical analysis, LINK is currently facing strong resistance near $29 and is attempting to breach this level. With significant institutional interest, crypto whales, and trader confidence, there is a strong possibility it could break through this level in the coming days.

Based on the recent price action, if LINK breaches this level and closes a candle above $29.50, there is a strong possibility it could initially soar by 20% to reach the next resistance level of $35, and later surge by 80% to reach the $52.50 level, which is its all-time high.LINK