Chainlink (LINK) has shown strong momentum recently, with its price rising by 16% over the past four days before a slight dip of 2.14% today. Currently trading at $14.095, LINK is showing signs of a potential bull run that could push its price to $20 in the coming weeks.
After a series of four bullish days, with a notable 7% gain, traders are closely watching Chainlink. The key question now is whether the recent bullish trend will continue and drive the price up to $20.
Chainlink (LINK) Price Surge and Whale Activity
Chainlink (LINK) is experiencing a bullish revival as the crypto market recovers. The price has shown a double-bottom reversal from the $12.242 support level, rising by 13.73% over the past five days and approaching the $14.50 resistance zone.
This recent price action indicates a trendline breakout rally gaining momentum. However, the current intraday drop suggests a possible retest of the previously broken resistance trendline.
![](https://public.bnbstatic.com/image/pgc/202407/6ce98c08ea01bedc936b0ac7b449a8a6.png)
According to a recent tweet by top crypto analyst @ali_charts, Chainlink whales have accumulated over 10 million LINK tokens in the past two weeks, amounting to nearly $140 million at current market prices.
Chainlink (LINK) Momentum Indicators
The MACD shows a positive crossover between the MACD and signal lines, with the indicator approaching the zero line, signaling a bullish reversal.
The daily RSI line is also showing positive movement, crossing above the halfway mark and heading towards the overbought zone. These momentum indicators suggest a strong possibility of a continued bull run in LINK prices.
Chainlink (LINK) Price Outlook
![](https://public.bnbstatic.com/image/pgc/202407/5bf252965419bfd4404702e7c9239a99.png)
Despite the recent intraday drop, the overall sentiment for Chainlink remains positive. The continued buying by whales and the breakout rally suggest that the LINK price has a strong potential to reach $20. However, the resistance level at $16.75 is a key supply zone to monitor, as it could impact the price movement.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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