Key Notes
- Chainlink touched $26.6, its highest price since January.
- Whale holdings surged past $135 million in LINK.
- Exchange balances dropped by over 10 million LINK in a month.
Chainlink (LINK) has shown a strong price action despite the broader market struggling under selling pressure. The token has gained more than 130% since June, outperforming numerous competitors and peers, and now holds the 11th spot in the market according to CoinMarketCap’s rating.
In the early hours of August 19, LINK surged to $26.6 for the first time in seven months. At the time of writing, the cryptocurrency trades at $24.17 with a $16.4 billion market cap.
Whale Accumulation Signals Confidence
Market intelligence firm Santiment revealed that Chainlink’s on-chain activity has been on the rise. Nearly 10,000 unique addresses conducted transfers on Sunday, while over 9,600 new wallets were created on Monday, both setting records for 2025.
🔗📈 Chainlink has remained a force among the altcoin pack, jumping above $26 for the first time in seven months. On-chain activity has been even more impressive than the price. 9,813 different $LINK addresses made at least one transfer on Sunday, and 9,625 new $LINK wallets were… pic.twitter.com/ePGjiBcSyl
— Santiment (@santimentfeed) August 19, 2025
Whale participation has been another driving factor. Large holders added 1.15 million LINK, increasing their collective stake to 5.43 million tokens, worth approximately $135 million.
Exchange balances continue to trend lower, falling from 280 million to 269.56 million LINK in just one month. It is clear that fewer holders are willing to sell at current prices.
Whales have been consistently accumulating. LookonChain reported that whale 0x4EBD withdrew 249,808 LINK, valued at $6 million, from Binance earlier today. The exchange exit pushes his total four-day withdrawals to nearly 1.3 million LINK worth $31.15 million..
Whale 0x4EBD withdrew another 249,808 $LINK ($6M) from #Binance ~35 mins ago, bringing his total withdrawals to 1,293,757 $LINK ($31.15M) over the past 4 days.
What a crazy accumulation! https://t.co/eHcu8rVI17 pic.twitter.com/1R4iOne8RR
— Lookonchain (@lookonchain) August 19, 2025
LINK Price Analysis: $30 Soon?
On the daily LINK price chart , the RSI is slightly cooling from overbought levels, indicating a possible short-term consolidation. Failure to hold $23.8 support could lead the token to $20, with strong support near $18.
LINK price chart with RSI and Bollinger Bands | Source: Trading View
The Bollinger Bands indicate that the price is approaching the upper band at around $27.1, a typical sign of overextension. This suggests a near-term pullback toward the mid-band (20-day SMA) support near $20.4.
The MACD remains in bullish territory with the MACD line well above the signal line. However, momentum appears to be slowing as histogram bars shrink.
LINK price chart with MACD | Source: Trading View
If buyers regain strength, resistance lies at $26.6, and a breakout could push LINK toward $30, making Chainlink one of the best cryptos to buy in August 2025.
