Chainlink (LINK) Accumulation Builds: $12.80 Break Could Spark $31+ Rally

• LINK maintains multi-year support as analysts monitor whale accumulation and market signals.
• Fibonacci levels and resistance at $25–$31 shape LINK’s broader trend and bullish structure.
• Weak volume and indecisive movement leave traders waiting for clearer direction in LINK.

Chainlink (LINK) started the week evenly because the asset was close to a long-term support zone. The accumulation was recorded to be steady with less trading interest. The technical framework is still under consideration because traders track indicators that could affect the next directional movement of LINK.

As of press time, LINK is trading at $12.60, with a 1.21% decrease in the past day. The trading volumes have reduced by 46.05% and now stand at $320.2 million. Over the last week, the coin price has declined by 4.38%. 

Source: CoinMarketCap

LINK Forms Bullish Structure Toward Key Resistance

Analyst Crypto Patel pointed out a significant long-term structure. He noted that there is a multi-year support area on the two-week chart of LINK. He further stated that a high-timeframe bullish reversal formation has been in existence since the 2021 peak. Patel stated that a breakout and retest have already taken place.

He determined an accumulation zone between $10 and $7. He added that the token has been trading well above the 0.618 Fibonacci level at $9.88. The increased lows are also indicative of the trend change. Patel reported resistance of $25 to $31 as an expansion trigger.

Source: X

He has given cycle targets of $31, $52, and $100. Patel further stated that the bullish structure holds true as long as the token goes above the Fibonacci range between 0.5 and 0.786 support. He indicated that if cryptocurrency closed weekly below the $7 range, invalidation would take place.

Also Read: Chainlink Tested as BitMEX Expands Into 24/7 Equity Perps

On-chain metrics coincided with some aspects of the Patel analysis. According to Santiment, there was a buildup in the top 100 LINK wallets under $13. Retail traders exhibited selling behavior during volatile periods. Analysts saw this divergence as a transition toward stronger hands in the near future.

Source: X

Moreover, another analyst, CryptoWZRD, mentioned that LINK was showing an indecisive signal. To sustain upside momentum, the token needs to undertake a healthier turn. He highlighted that there was an important intraday price of $12.80. A fall below such a line can prolong setbacks.

Source: X

Trading Volume and Open Interest Decline 

According to CoinGlass data, the trading volume fell by 33.47% to $572.06 million. Open interest went down to 3.92% at $562.32 million. The OI-weighted funding rate is 0.0079%. Analysts indicated that the readings indicate low confidence among the leveraged participants.

Source: CoinGlass

Cryptocurrency is located within a technical zone, which is still attracting attention. The analysts are monitoring whale accumulation, Fibonacci indices, and short-term supports. The market participants are currently awaiting better indications, which may characterize the following trend for cryptocurrency.

Also Read: XRP Retests Falling Wedge Resistance as Bulls Seek Confirmation