Chainlink Whales Pile In as Analysts Eye $200 Price Target

Chainlink (LINK) is making headlines again as on-chain data shows that whale transactions have surged to their highest level in three months, according to analyst Ali Martinez. This rise in big-money moves comes as LINK’s price has rallied sharply, jumping 10% in the last 24 hours.

The surge in whale activity coincides with bullish market sentiment and a series of announcements. Chainlink recently revealed a strategic partnership with the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to bring forex and precious metals data on-chain.

According to experts, Chainlink could be the biggest winner from this wave of institutional adoption. The coin will overtake several other major cryptocurrencies in market cap rankings.

Analyst Jeremy Fielder recently raised his LINK price target for the current cycle to $200, citing reduced circulating supply and steady buybacks as important factors.

“This boosts scarcity at a time when demand for blockchain infrastructure is skyrocketing, and the ultimate supply of LINK is capped,” Jeremy wrote.

Chainlink saw a solid move today after an overnight dip. The price dropped into the Fibonacci support zone between $19.93 and $20.85, then bounced sharply. From that low, LINK rallied about 10%, breaking past the important $23 resistance level.

At the moment, the price is holding above $23 and consolidating. There’s no clear sign yet of a pullback, but if the price falls below $20.80, that could

If LINK continues higher instead, the next key targets are $25.12, then $31. A clean breakout above $25 without a pullback would suggest the correction already happened earlier and the uptrend is intact.

With a hard cap of 1 billion LINK tokens and growing demand for blockchain infrastructure, the supply-demand equation seems to be tilting in favor of higher prices. As Chainlink cements partnerships with financial heavyweights and continues building its treasury reserves, the current rally may just be the start of a much larger move.