Chainlink Price Forecast: LINK ready for a jump $40 with no significant barriers ahead

  • Chainlink price had a massive sell-off in the past 24 hours hitting $27.5.
  • LINK bulls bought the dip pushing the digital asset by 24% within a few hours.
  • Large whales have bought a lot of Chainlink coins in the past week.

Chainlink price had another massive rally in just three days, jumping by 33% and reaching a new all-time high of $35.7. On February 15, the digital asset suffered a massive sell-off dropping by 20%, but the bulls bought the dip.

Chainlink price looks bullish as whales continue to accumulate

The number of whales with 1,000,000 to 10,000,000 LINK coins ($34,000,000 to $340,000,000) has increased significantly by three in the past week, indicating that large holders believe Chainlink price can surge even higher.

link price

LINK Holders Distribution chart

Using the Fibonacci Retracement tool, the next potential price target on the daily chart seems to be around $43 which is the 127.2% fib level. Higher than that, Chainlink might even reach $52.89 in the long-term, at the 161.8% level.

link price

LINK/USD daily chart

However, on the daily chart, the TD Sequential indicator has presented a green ‘8’ candlestick which is usually followed by a sell signal. Validation of this call could quickly send LINK towards $30 again and even $25 at the 61.8% level.

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