On Thursday, Chainlink (LINK) climbed from Monday\u2019s lows to reclaim the $23 mark for the first time in over a week. The surge fueled investors\u2019 bullish sentiment, with some market watchers forecasting a breakout to new highs.<\/p>\n
Chainlink jumped 9% in the past day, tapping the $23 mark for the first time in ten days. LINK rallied<\/a> alongside the rest of the market during the post-election pump, surging 200% in one month.<\/p>\n During this rally, the cryptocurrency surpassed its Mach 2024 high of $22 and reached a new multi-year high of $30. However, the December pullbacks halted LINK\u2019s momentum, with Chainlink hovering between $20 and $25 for the rest of the month.<\/p>\n LINK attempted to retest the $25 resistance zone during the start-of-year run but retraced during the recent market corrections, driving the price to $18, its lowest level in over a month.<\/p>\n Amid the current market recovery, the cryptocurrency has surged 27% from its Monday low and caught the attention of analysts and large-scale investors. Altcoin Sherpa signaled<\/a> that LINK could likely see a \u201cV shape reverse up\u201d following the recovery from the recent market \u201cnuke.\u201d<\/p>\n On Thursday, Crypto analyst Ali Martinez highlighted<\/a> that whales have \u201cheavily accumulated\u201d LINK in the last few days. According to the post, large-scale investors have purchased 1.35 million LINK, worth around $31 million, since January 14.<\/p>\n It\u2019s worth noting that whales have purchased significant amounts of LINK over the past weeks. In late December, Chainlink whales bought<\/a> around 3.58 million LINK tokens, valued at $77 million. Meanwhile, on-chain data shared by the analyst shows that these wallets had acquired 1.4 million tokens in the first four days of 2025.<\/p>\n Martinez suggested that the buying pressure could further impulse LINK\u2019s momentum. Chainlink has been forming a bull pennant since hitting its December high and failed to break above the upper trendline earlier this month.<\/p>\n However, today\u2019s jump sent LINK\u2019s price past the pattern\u2019s upper trendline and, according to the analyst, eyes at the $50 target. Crypto analyst Jelle noted that Chainlink tested a key resistance into support.<\/p>\nLINK Holds Crucial Level<\/h2>\n