Chainlink Bulls Return: $120M Moves Out, Eyes Locked on $16

• Chainlink sees $120M in outflows, signaling strong accumulation and bullish momentum.
• Whale activity spikes as large holders move millions of LINK tokens off exchanges.
• LINK targets $16 resistance, but profit-taking could cause a potential pullback to $13.70.

Chainlink’s LINK has stirred back to life. After months of dormancy and dropping prices, bulls have returned with purpose. Over the last 30 days, LINK has seen $120 million worth of tokens pulled from exchanges. This isn’t noise—it’s a clear signal. Buyers are loading up. Whales have entered the game. The mood has shifted. All eyes now lock on $16, and the fuel for this next push looks stronger than ever.

Whale Activity and Network Growth Fuel LINK’s Comeback

Exchange Netflows have turned red for nearly two weeks straight—meaning more LINK leaves exchanges than enters. This behavior usually signals one thing: accumulation. And not just by retail traders. Whales have joined the feeding frenzy. Large holders just logged a two-month high in netflow, moving 3.81 million LINK off exchanges. That’s not casual buying. That’s conviction. Whales now grip the market and seem ready to ride the next leg up. Meanwhile, network activity shows fresh life. Active wallet addresses jumped from 2.3k to 3.6k in just four days. That’s a 56% surge in participation.

More users are moving tokens and Open Interest in LINK is returning. The Chainlink network doesn’t just look alive—it feels charged. All this happens as LINK trades around $14.95, up over 12% in 24 hours. On weekly charts, the gains stretch to 22%. A breakout from a two-month descending triangle added technical fuel to the fire. The next resistance sits around $16.12. That’s the next big test. Cross it, and bulls could send LINK even higher. But there’s one catch.

Profit-taking Could Test the Rally

Many LINK holders sat underwater during the last few months. That’s now changed. The recent price pump brought them back into profit territory. Some of them may not wait. They might sell into this rally and cash out while momentum holds. If that happens, LINK could see a short pullback. The $13.70 range looks like the next possible support.

But a brief dip wouldn’t break the trend—unless profit-taking turns into panic. So far, that doesn’t seem likely. Accumulation continues. Whale activity grows. And exchange outflows stay strong. As long as these metrics hold, the rally looks intact. Momentum favors the bulls.

In the meantime, the network shows strength. The sentiment has flipped. Now, all eyes stay glued to $16. If bulls push past this level, the rally could enter a new chapter. For now, LINK seems to have woken up with no signs of a slow down as price gains momentum.