Whales Accumulate $376M in LINK as Chainlink Exchange Outflows Strengthen Bullish Outlook

Chainlink (LINK) has recently shown a potential bullish trend that is driven by increased accumulation of LINK by the crypto whales, resulting in a notable shift in exchange flow. As of April 22, 2025, the data indicated that whales have purchased LINK tokens worth 376 million. This accumulation happened when the whale was trading at the $6.30 level, forming a critical support zone and shifting the market sentiment to positive due to investor confidence.

According to crypto analyst Ali (@ali_charts), this purchase has strengthened the $6.30 as a strong support level, making it unlikely for the LINK price to fall below this point shortly. The presence of the green clusters on the on-chain analysis chart further confirms the strong demand at this level. These clusters indicate that a major number of wallets are holding LINK and are currently in profit, resulting in clusters on the price stability or maybe an upward trajectory. 

Resistance at $15.22 Could Test Bullish Strength

LINK/USD chart, published on Tradingview, April 22, 2025

At $13.432, the price of Chainlink has increased by $0.330, or 2.52%. Nevertheless, a resistance level has been discovered despite the bullish trend projection and the optimistic market sentiment. The $15.22 price point serves as a potential ceiling where selling pressure might be more intense. This level corresponds with the red cluster on the Ali Chart, signaling that many addresses holding LINK at this price are currently at a loss. Should the price return to $15.22, these holders might be motivated to exit their position to recover their initial investments even without securing profits. Their behavior could result in selling pressure that may hinder further price movement unless supported by huge trading volume. 

Exchange Outflows Point to Long-Term Holder Confidence

Alongside this crypto whales’ massive accumulation, Chainlink has also seen considerable outflow from centralized exchanges, which generally indicates accumulation and reduced selling pressure. According to IntoTheBlock, over $120 million worth of LINK has been withdrawn from exchanges between March 23 and April 22, 2025. This movement indicates that investors are relocating their assets to long-term storage, an action that is often considered positive price momentum. During this period, the LINK price rose from $22.27 to $24.50, showing an increase of 10%, with the trading volume jumping from $350 to $500 million. 

Keep an eye on altcoin exchange flows👀$LINK has seen consistent outflows from exchanges over the past month, hinting at ongoing accumulation. In total, net outflows surpass $120 million worth of LINK in the last 30 days. pic.twitter.com/XbU4qsGuWd

— IntoTheBlock (@intotheblock) April 22, 2025

Chainlink (LINK) Price: Can It Achieve $16?

With crypto whales’ interest in LINK and positive market sentiment, as of April 2025, Chainlink (LINK) is predicted to begin its second quarter with potential upward momentum, possibly reaching a high of $16.34, indicating a 21.20% ROI from its current price point. The projected Chainlink price range is between $10.60 at the lower end and $16.4 at the upper limit, with an anticipated average of $13.82 for the month.

What’s Next?

Overall, the Chainlink price prediction reveals that LINK has the potential to reach $16 due to the crypto whales’ accumulation and wallet activity. There is robust support at $6.30, declining exchange reserves, and strengthening technical indicators suggest the Chainlink price may break out. However, whether LINK can surpass the $15.22 is dependent on the trading volume and market sentiment. So investors should monitor these key levels closely as LINK’s next directional move unfolds in the coming weeks.