Chainlink Breaks Key Resistance: Can Whales Push Price to $31 by 2025?
Key Takeaways:
- Whale activity surges as Chainlinks price breaks $13.65, with major stakeholders increasing their holdings by +8.2%.
- Chainlinks current market resistance points to a consolidation phase, but experts see significant growth potential in 2025.
- Chainlinks AI and blockchain initiative could revolutionize the financial sector, with high-profile partnerships underscoring its potential.
Chainlink (LINK) has been making significant moves in the cryptocurrency market, recently breaching the $13.65 mark for the first time since July. The coins price jump comes as whale activity hits a 3-month high, with stakeholders holding between 100,000 and 10 million LINK accumulating a massive $369.8 million worth of tokens over just seven weeks.
According to data provided by Santiment, this represents an 8.2% accumulation of their holdings, a vote of confidence in the future of the virtual asset. The surge in whale activity might be a sign that investors are optimistic about further gains. However, experts say LINK faces short-term consolidation given various resistance points.
With this in mind, some analysts have pointed out that any movement below about $9 could form a strategic entry point, predicting that growth in 2025 might bring the token as high as $21 to $31. This may test some resilience in the market, but its expected to be critical in timing for larger growth while releasing its price.
Chainlinks Path to Potential $39-$41 and Beyond
Chainlink has finally flashed a strong reversal signal, and one expert, known as Titan of Crypto, is pointing at one key technical indicator that the asset is going to break out. LINK eyes intermediate targets at $39-$41, especially once significant barriers like the Kijun and the Kumo cloud are cleared. Once these levels cave, that could set the stage for some pretty major price lift-off.
While the market is skeptical, these resistance levels could enable a healthy consolidation period for LINK to make its next big move. Backed by improving investor sentiment, the bullish technical indicators paint a fertile ground on which LINK can rise over the coming months.
AI and Blockchain: Chainlinks Groundbreaking Initiative
Beyond chart action, Chainlink is innovating in the space where AI meets blockchain. Rather recently, this blockchain network unveiled a game-changing project to solve the $3.1 trillion problem of data handling in the financial world.
In collaboration with Swift, Euroclear, and UBS, Chainlink is developing a single golden record of corporate activity in order to reduce fragmentation and inaccuracies. In line with the foregoing, oracles at Chainlink undertake the use of large language models so that real-time verification of data becomes automated and fast, thus limiting unnecessary manual labor and very costly mistakes.
Although AI faces certain challenges, such a solution might become disruptive in finance and other areas that deal with unstructured data, thereby giving Chainlink an edge over others in DeFi-AI convergence.
Related Reading | Post US Election, Holding RCOF Over TRON and Chainlink Is the Smart Call Says Legendary Trader
Read more: https://www.tronweekly.com/chainlink-breaks-key-resistance-can-whales-push/
Text source: TronWeekly
