Chainlink (LINK) Eyes $25.51 Resistance After $17.85 Breakout Amid Whale Accumulation and Reduced Supply

Key Points

1. LINK broke the $17.85 neckline, entering Elliott Wave 3, targeting $25.51 as the next resistance level.

2. Whale holdings of LINK increased by 41% in the last 90 days, indicating strong market confidence.

3. Exchange balances of LINK dropped to 273 million, signaling reduced market supply.

4. The launch of Chainlink Reserve and integration into Brazil’s Drex CBDC pilot are fundamental developments supporting LINK's adoption.

5. Technical indicators like MACD show positive momentum, with $20.00 as a key support level.