Institutional Investors Fuel Chainlink’s Ascent: Is $20 Be Within Reach in Q4? image 0
  • Institutional investors are accumulating LINK, signaling a potential price surge.  
  • Bullish technical patterns suggest LINK may reach $20 by year-end.  
  • Increased network activity and Smart Money inflows support a positive market outlook.

Chainlink (LINK) is drawing significant interest from large-scale buyers. Institutional investors have quietly accumulated large amounts of LINK, signaling a potential price rally in the months ahead. 

The increasing institutional and individual interest might set the ground for a significant price surge. As market sentiment shifts bullish, experts predict that LINK might climb to $20 by year-end, as the post below highlights.

#Chainlink #LINK is attracting "Smart Money" investors, suggesting a potential rally to $20. After breaking key resistance, LINK is correcting but still positioned for gains due to strong accumulation and bullish market sentiment. pic.twitter.com/uYuV5XecUj

— UPTX (@UPTX_official) October 2, 2024

Strong Technical Patterns and Market Sentiment

The recent price action around LINK is encouraging. After the August market crash, LINK formed a classic double bottom pattern—a signal of strength after a bearish trend. 

As the price consolidated around support, the token broke through short-term resistance, suggesting a structural shift in market momentum. Traders now look for the next move as Chainlink enters a correction phase. 

Technical indicators, including the MACD and Chaikin Money Flow (CMF), are turning bullish. The MACD, with its increased buying volume, confirms growing demand. The CMF, reflecting money inflows, shows Smart Money driving the action. These signs hint that LINK’s price could surge as high as $20, a potential 70% gain.

Network Activity and Accumulation

Chainlink’s network activity aligns with this bullish sentiment. The number of new addresses has increased by 25%, while active addresses have jumped by 59%. 

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More tellingly, zero-balance addresses have risen by 143%. This shows traders are gearing up for a rally, eager to join the market.

In terms of holdings distribution, Chainlink presents a dynamic shift. 

Investors holding between 1-10 million LINK tokens have expanded their positions, while those with over 10 million LINK have slightly reduced theirs. This rebalancing points to a healthy, evolving market where both buying and selling contribute to growth.

With Smart Money pouring in and a flurry of network activity, LINK seems primed for a breakout. If this momentum holds, the $20 mark may be attainable in the final quarter of the year.

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