Can Chainlink double from here? The technical signals are "screaming"!

Chainlink (LINK) is entering a strong growth phase — and this is not happening quietly. In the past 24 hours, the price of LINK has surged by 7%, bringing the market capitalization close to 15 billion USD. However, this is not just a random market spike. Behind this increase is a combination of solid underlying factors, including accumulation activity from "whales", the launch of the Chainlink Reserve program, and a wave of excitement in the derivatives market.

Chainlink Reserve: A Catalyst for Sustainable Growth

One of the most important catalysts driving the upward momentum of LINK is the launch of the Chainlink Reserve program – an initiative aimed at collecting LINK tokens from actual on-chain revenue. The goal of the program is to directly use the revenue to support the long-term development of the Chainlink ecosystem.

Currently, more than 65,000 LINK – equivalent to about 1.16 million USD – have been added to this reserve fund. Co-founder Sergey Nazarov stated that this is not merely a branding campaign, but a practical way to connect actual revenue with long-term value, especially in the context of the increasing demand for blockchain-to-real-world oracle data within the DeFi ecosystem.

Whales Accumulation – Derivatives Market Explosion

According to data from Santiment, large wallets holding between 100,000 and 1 million LINK have increased their holdings by 4.2% in just August, accounting for nearly 0.67% of the total supply in just a few weeks. This is a clear indicator of long-term confidence from institutional investors or whale wallets.

At the same time, data from Coinglass shows that the derivatives market is heating up quickly:

OI of LINK | Source: CoinglassThis increase indicates that not only long-term investors are getting involved, but short-term traders are also anticipating more significant volatility in the near future.

Technical analysis and target price levels

Technical analysts are beginning to make more optimistic assessments. Analyst Anderson believes that LINK is showing a clear bullish setup, with short-term resistance in the 20.5–21 USD range. If this area is surpassed, potential target levels could be:

On the contrary, the current key support level is 18 USD. Holding above this level is necessary for the buying side to maintain an advantage. In a negative scenario, if LINK falls below 17 USD, a significant short-term correction may occur.

Analyst Jonnie King believes that Chainlink is demonstrating remarkable breakout strength:

"The LINK price just closed a candle above the Gann 50% level, simultaneously forming a 'Golden Cross' – one of the strongest bullish technical signals in the market. According to theory, there usually will be a slight correction after this pattern, but as of now, there are no signs of a slowdown from LINK."

Notably: LINK is currently above the 50-day moving average (50DMA) compared to ETH, a factor that further reinforces the upward momentum of the ETH/BTC pair, signaling a clear capital rotation in the altcoin market.

Remember the familiar "money flow rotation" cycle every altcoin season: BTC → ETH → Large-cap Altcoin ( is entering this stage ) → Medium-cap Altcoin → Small-cap Coin.

With the current momentum, the question arises: Will the "LINK Marines" become the vanguard for the next wave of altcoins?

In a recent analysis, renowned trader Ali Martinez also provided an extremely optimistic outlook. He emphasized:

"Chainlink is still maintaining an upward trend and could definitely reach the $46 mark, as long as the strategic support area at $13 is not breached."

Source: Ali/XAt the time of writing, LINK is trading around $22.17, recording an increase of nearly 45% in just 30 days. If the bullish scenario of reaching $46 becomes a reality, that would correspond to a growth of more than 135% from the current point.

In the context of the cryptocurrency market in general searching for new drivers for a growth cycle, Chainlink may be in the right place at the right time — with increasing demand for decentralized oracle services, support from actual revenue, and strong confidence from major investors.

In summary, Chainlink is not just a token that is increasing in price in the short term. With strong fundamental factors such as Chainlink Reserve, the aggressive participation of whales, and dynamic derivative activities, LINK is proving that it could be one of the leading names in the next wave of growth in the blockchain world.

Annie